July 31 International Forex News

Probability of a 25 bps Fed Rate Hike in September Stands at 63.4%

July 31: According to CME FedWatch, the probability that the Federal Reserve will keep rates unchanged by September is 36.6%, while the probability of a cumulative 25 bps rate hike is 63.4%. By October, the probability that the Federal Reserve will keep rates unchanged is 26.9%; the probability of a cumulative 25 bps rate hike is 56.3%; and the probability of a cumulative 50 bps rate hike is 16.9%.

Japanese Media: Japan and the U.S. Jointly Intervene to Curb Yen Depreciation

July 31: According to Nikkei, during Thursday’s U.S. trading session, the yen rose sharply against the U.S. dollar, once reaching 157.80 yen per dollar. According to market participants, the Japanese government and the Bank of Japan conducted foreign exchange intervention by buying yen and selling dollars. At the same time, U.S. monetary authorities also carried out a “rate check,” a step before intervention. This means Japan and the U.S. jointly took action to curb yen depreciation.