USD/JPY slides on verbal intervention, risk-off mood – ING

FXStreetNov 4, 2025 9:28 AM

View all comments（0）



USD/JPY drops sharply as renewed verbal intervention from Japan’s finance minister and weaker global equities spark safe-haven demand and short-covering in Japanese Yen (JPY), ING's FX analyst Francesco Pesole notes.

Equity selloff and short covering boost JPY

"This morning, we are seeing a sizeable drop in USD/JPY. That is likely being driven by more verbal FX intervention from the Japanese finance minister and a drop in global equity futures. It is a signal that the yen remains a go-to currency for safe-haven demand (which has been lackluster of late), but also that the extensive short positioning on JPY can fuel rapid rallies."

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

Western Digital (WDC) Stock Forecast: Melius Targets $1,050 After 84% Margin; Short Setup at $570

TradingKey - Melius Research targets $1,050 for Western Digital. Goldman raised to $650. Q4 earnings are July 29 with consensus EPS of $3.27, up 100%. At $569 in a descending channel, here’s what the bull and bear cases say.

Meta Stock Price Forecast: Heavy Upside Pressure on Stock Price, Can It Still Rise in the Second Half of 2026?

TradingKey - As of July 9 ET, Meta (META) was trading at $631.48, rising 4.7% for the day and reaching an intraday high of $633.27. While Meta's share price has reclaimed the $600 level, technical indicators still suggest the potential for further pullbacks.

Bloom Energy (BE) Stock Forecast: $25B Brookfield Deal, July 28 Earnings

TradingKey - Two short sellers hit Bloom Energy last week — Hunterbrook alleged Chinese scandium supply reliance, Crossroads Capital added a second short. Bloom refuted both. At $257 in a triple bottom, July 28 earnings is the resolution. Here’s the setup for the week ahead.

Alibaba (BABA) Stock Forecast July 2026: Four Catalysts Drove 12% in Two Days; Is the $160 Target Achievable?

TradingKey - Alibaba gained 12% in two days after a $600M DOJ settlement, a Pentagon rule reprieve, reports of limited Nvidia H200 access, and 45% cloud growth expectations. At $111 with Q1 earnings August 28, here’s what the week ahead holds.

NVIDIA (NVDA) Stock Price Forecast July 2026: Goldman Says 21.7x Is ‘Compelling’ After Kyber Delay Denied

TradingKey - NVDA denied a Kyber rack-scale delay report and shares rose 1%. Goldman calls 21.7x forward P/E ‘compelling.’ At $198 with a short setup, here’s what both sides are seeing.

Featured Tools