[MARKET UPDATE] USD/JPY drops from 157.70 to 156.70. Thereafter, returns above the 157.00 handle.
The USD/JPY's descent from 157.70 to 156.70 and subsequent rebound above 157.00 indicates significant intraday volatility, likely driven by market positioning or new data influencing risk sentiment.
German Inflation Rate YoY Final (Apr) Y/Y 2.9% vs. Exp. 2.9% (Prev. 2.7%, Low. 2.9%, High. 2.9%)
Pemex reports control of the incident at the Salina Cruz refinery (330k BPD capacity)
[MARKET UPDATE] USD/JPY drops from 157.70 to 156.70. Thereafter, returns above the 157.00 handle.
Newsquawk Daily European Equity Opening News - 12th May 2026
Notable FX Option Expiries for today's NY cut: Large EUR/USD near-the-money clips
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This movement suggests traders are reacting to either changes in U.S. interest rate expectations or shifts in economic forecasts for Japan, which can affect cross-asset flows.
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