DXY & Forex

According to Yonhap InfoMax, the USD/KRW exchange rate fell sharply to the mid-1410s overnight on July 30-31 due to coordinated market intervention by South Korean and Japanese authorities, before recovering. As of 9:08 AM on July 31 in Seoul, USD/KRW traded at 1,427.40 won, down 10 won from the

According to Yonhap Infomax, the Korean won-to-dollar spot exchange rate traded at the 'zero' level in the Seoul foreign exchange market as of early morning on July 31. The non-deliverable forward (NDF) fixing position remained square, indicating a neutral stance among regional market participants a

According to Jin10, the CFETS-NEX RMB liquidity sentiment index reached 55 as of 10:15 AM on July 31, up 3 points from 08:45 AM. Among the three categories, large banks reported 54, mid-size and small banks 56, and non-bank institutions 54, each rising 3 points. The index operates on a 0-100 scale

Apple stocks slid 6% in overnight trading ahead of Friday after the iPhone maker issued September quarter sales guidance below analyst expectations. Apple projected sales growth between 9% and 11% for the September quarter, missing the analyst consensus of roughly 12%. The company attributed the

South Korea's Ministry of Economy and Finance reported that national tax revenue for the first half reached 223 trillion won, an increase of 33 trillion won (17.4%) compared to the same period last year. The growth was driven by increases in income tax, corporate tax, and heightened securities

According to Mitsubishi UFJ Bank's senior FX analyst Michael Wan, Japanese yen net short positions remained near historical highs on July 31, with the Bank of Japan potentially attempting to unwind these positions. The yen climbed 3.3% the previous day. Market participants are expected to exercise c

According to Japan's Statistics Bureau, Tokyo's core consumer price index (excluding fresh food) rose 1.9% year-over-year in July, exceeding the market forecast of 1.7% and the previous month's 1.6%. Core-core CPI (excluding fresh food and energy) climbed 2.0% year-over-year, while the headline inde

South Korea, US, and Japan foreign exchange authorities coordinated an unprecedented three-way intervention in the foreign exchange market on July 31 evening. South Korean and Japanese authorities simultaneously sold dollars to

According to Daiwa Securities Chief FX Strategist Kenta Tadaide on July 31, any unexpected intervention by the Japanese government to support the yen may serve only as a temporary measure to buy time. "To maximize the effectiveness of currency intervention, monetary policy must move in the same

The Federal Reserve may raise interest rates in September to restore market credibility after losing trust at the recent Federal Open Market Committee meeting, according to Bank of America analysis. BofA stated in a report that the paradoxical need to rebuild credibility increases the likelihood of

According to a consensus of multiple financial institutions, the Bank of Japan is expected to hold interest rates unchanged at this week's policy decision, with October emerging as the most likely timing for the next rate increase. Deutsche Bank, Reuters, JPMorgan Chase, and other analysts noted

According to Gate data, the US dollar strengthened against the Japanese yen on July 31, rising 0.65% to 160.535. Meanwhile, gold prices declined to 4,094.83 USD per ounce, down 0.26% intraday, while silver prices rose to 58.849 USD per ounce,

Foreign investors net sold 3.9331 trillion won of Korean won-denominated bonds over 7 consecutive trading days from the 22nd to the 30th, according to Yonhap Infomax data released on the 31st. The selling spree marks the first 7-day consecutive outflow since January 2023. Market participants

China's central bank conducted reverse repurchase operations today, injecting a net 45 billion yuan into the money market. The operations included 134 billion yuan in 7-day reverse repos at 1.40% interest (unchanged from the previous operation) and 600 billion yuan in overnight reverse repos,

According to Yonhapinfomax, foreign investors sold approximately 3.93 trillion won of Korean government bonds over 7 consecutive trading days from July 22–30, marking the first such streak since January 2023. The liquidation was driven by a sharp decline in the Korean won exchange rate, which

According to Jin10, on July 31, the Chinese yuan's central parity rate weakened against the US dollar to 6.7894, up 2 points. The euro strengthened to 7.7886, up 273 points. The Hong Kong dollar weakened to 0.86559, down 1.4 points. The British pound appreciated to 9.0982, up 527 points. The

According to a Yonhapinfomax survey of 12 domestic bond market experts on July 31, South Korea's 3-year government bond yields are expected to reach 3.83% in August, while 10-year yields are forecast at 4.31%. The consensus reflects concerns that the Bank of Korea may continue raising benchmark

According to Fox Business Network, U.S. Treasury Secretary Scott Bessent commented yesterday (July 30) that the Japanese yen appears significantly undervalued despite Japan's strong economic fundamentals and popular prime minister. Bessent stated he does not oppose the yen strengthening against the

According to ING, Japanese authorities intervened in the foreign exchange market overnight on July 30, pushing the USD/JPY exchange rate below 160 yen. ING estimated the intervention at approximately $70 billion, comparable to Japan's previous intervention in late April when authorities conducted a

The U.S. Bureau of Economic Analysis (BEA) released on July 31 that June personal consumption expenditures (PCE) inflation rose 3.7% year over year, down from 4.1% in May, matching market expectations. Supported by cooling PCE inflation data, Bitcoin (BTC) rebounded to above $65,000, rising nearly 2% over the day. At the Federal Open Market Committee (FOMC) meeting the previous day, the Federal Reserve (Fed) kept interest rates unchanged for the fifth consecutive time. U.S. June PCE data: Year-o