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Yardeni Research says U.S.-Japan yen intervention will likely fail due to Japan's soft-currency fiscal policy, wide rate gaps, and the Treasury's use of euros rather than dollars in the operation.
Technical analysis shows USD/JPY testing 200-day EMA with bullish bias, USD/CAD forming double bottom eyeing 1.4150, and USD/CHF consolidating near 0.8150 amid carry trade dynamics.
The Canadian dollar fell from 16-month highs due to stronger US labor data and yield gains, while weaker Canadian jobs data and cautious BoC stance reduced loonie demand, favoring the US dollar in a …