US dollar rises sharply, faces short-term technical resistance 🤨
Diverging outlooks for monetary policy have led to sharp gains in the dollar over the past two months, and it is now facing strong technical resistance to a near-term reversal. The yen and yuan have been relatively lagging against the dollar during this move, and central bank officials have taken action Verbal intervention as a short-term strategy to stop one-way moves.
*KANDA: Watch the foreign exchange situation with urgency
*JAPAN’S KANDA: Maintaining close ties with the U.S. Treasury Department
*KANDA: U.S. and Japan share same view on excessive movements
