Forexlive Americas FX news wrap: Strong JOLTS report sparks JPY intervention

<ul><li><a href="https://www.forexlive.com/news/jolts-job-openings-for-august-961m-versus-8800m-expected-20231003/">JOLTS job openings for August 9.61M versus 8.800M expected</a></li><li><a href="https://www.forexlive.com/news/japan-senior-mof-official-asked-about-intervention-no-comment-20231003/">Japan senior MOF official asked about intervention: No comment</a></li><li><a href="https://www.forexlive.com/news/new-zealand-gdt-price-index-44-20231003/">New Zealand GDT price index +4.4%</a></li><li><a href="https://www.forexlive.com/centralbank/bocs-vincent-firms-continue-to-expect-price-changes-to-remain-larger-and-more-frequent-20231003/">BOC's Vincent: Firms continue to expect price changes to remain larger and more frequent</a></li><li><a href="https://www.forexlive.com/centralbank/feds-bostic-higher-long-end-rates-matter-if-they-slow-growth-too-much-no-sign-yet-20231003/">Fed's Bostic: Higher long-end rates matter if they slow growth too much, no sign yet</a></li><li><a href="https://www.forexlive.com/centralbank/feds-bostic-fed-still-has-a-way-to-go-to-get-inflation-back-to-target-20231003/">Fed's Bostic: Fed still has a way to go to get inflation back to target</a></li><li><a href="https://www.forexlive.com/centralbank/feds-mester-says-shes-likely-to-favor-hike-at-next-meeting-if-current-situation-holds-20231003/">Fed's Mester: Says she's likely to favor hike at next meeting if current situation holds</a></li><li><a href="https://www.forexlive.com/news/ibdtipp-economic-optimism-index-363-versus-416-expected-20231003/">IBD/TIPP economic optimism index 36.3 versus 41.6 expected</a></li></ul><p>Markets:</p><ul><li>US 10-year yields up 11.7 bps to 4.80%</li><li>WTI crude oil up 77-cents to $89.59</li><li>Gold down $3 to $1824</li><li>S&amp;P 500 down 1.3%, Nasdaq down 1.9%</li><li>JPY leads, AUD lags</li></ul><p>The Japanese ministry of finance had their feet put to the fire on Tuesday after a strong JOLTS report led to a broad USD bid and further selloff in bonds. Before the report, USD/JPY was right below the 150.00 level so it wasn't a big surprise when it broke and that continued up to 150.16. That's when Japan deployed its firepower in a quick drop to 147.40.</p><p>The market now thinks it's seen the MOF's hand and there was some strong dip buying and a bounce to 149.33. In the past several hours, it's ticked lower to 148.80. I've included a chart below.</p><p>Even with the MOF buying US dollars, it didn't do much to stop the rally in the dollar as 10-year yields rose to a new cycle high. AUD/USD was beaten up in a fall to the lows of the year. Similarly, USD/CAD rose above the April/September highs to 1.3735 despite gains in oil and natural gas.</p><p>EUR/USD continued to sink as well, hitting 1.0449, though that pair held up much better than others.</p><p>Late in the day, the US House voted to oust speaker Kevin McCarthy, adding to the uncertainty in the market. </p><p>USD/JPY intervention chart:</p>

This article was written by Adam Button at www.forexlive.com.