[MARKET UPDATE] USD/JPY immediately falls 60 pips following comments from Japanese Finance Minister Katayama
- The move followed through to other pairs - Cable rose 35 pips, EUR/USD 7 pips amid USD weakness.
Context
The immediate 60-pip drop in USD/JPY indicates a strong reaction to comments from Finance Minister Katayama, suggesting increased concerns over yen strength or intervention signals. This move also prompted a broader weakening of the USD, benefiting other pairs like GBP/USD and EUR/USD, which reinforces the narrative of risk sentiment shifting against the dollar.
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