Yen Soars Through 160 as US Growth Disappoints

US GDP came in at just 1.5% in Q2, missing expectations and causing US front-end yields to fall.

The weak print reinforced the case for selling USD/JPY, a trade that had become crowded but was still on the right side of momentum.

The yen spiked through 160 after the GDP release, raising speculation about Japanese intervention.

While there's been no official confirmation, the timing fits Japan's playbook: strike into weak US data when momentum and positioning amplify its impact.