Rare

Good morning.

Last night, the CPI for June in the USA was announced, and it confirmed a slowdown in inflation due to lower-than-expected financial estimates.

In particular, the month-on-month comparison is the first negative in four years, and a rate cut in September is considered certain.

...and, amidst various events, a surprise sharp decline of nearly 4 yen in the USD/JPY occurred.

There are reports of currency interventions, but if interventions that should be 'rare' occur frequently, no one will be able to trust them 😅.

It is unclear if it is due to interventions, but with the significant drop in US stocks, we need to be cautious at the opening of the Japanese stock market.