Mitsubishi UFJ: The market is awaiting new catalysts for the US dollar and interest rates

According to Golden Ten Data on July 6, Michael Wan, Senior Foreign Exchange Analyst at Mitsubishi UFJ, stated in a research report that the market appears to be in a wait-and-see mode, anticipating the next catalyst for the US dollar and US interest rates. Looking ahead, "Global markets will seek direction from key data points such as the US ISM Services data and Federal Reserve meeting minutes later this week, as well as next week’s US CPI," he said. Furthermore, the market is also closely watching whether Japanese authorities intervened in the foreign exchange market last week to curb the weakening yen. As USD/JPY continues to hover near the 162 mark, this uncertainty risk should not be underestimated.