Dollar Decline Deepens as Back-to-Back Yen Interventions Take Effect

The US dollar has extended its decline following back-to-back interventions aimed at stabilizing the Japanese Yen. The Fed meeting triggered a fall in the USD, which was further exacerbated by the yen intervention.

Key economic data this week includes US jobs reports and manufacturing figures, which will influence sentiment and currency markets. Canada's GDP beat expectations, growing 0.3% in May, but had a limited effect on the Loonie.

The Mexican peso has rallied on stronger-than-expected GDP growth and a weaker dollar. USD/JPY slid back into the mid-157s after Japan's initial intervention was followed by a US assist.