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2025-09-18 09:22:33
[USD/JPY rebounded after the Fed cut interest rates and returned to the Ichimoku Cloud area] 1. After the Fed cut interest rates by 25 basis points, USD/JPY rebounded, rising 0.13% to 147.14 in the Asian session on Thursday. The spot exchange rate returned to the daily Ichimoku Cloud area of 146.72-147.88, but the momentum was insufficient. The Fed's policy was not as dovish as expected, with only one person supporting a larger interest rate cut. Interest rates may continue to cut in the future, and the US dollar's mid-line is still weak. Short-covering and buying by Japanese importers pushed up the exchange rate, and US Treasury yields rebounded, but the trend of narrowing the US-Japan bond yield gap remained unchanged. 2. Today, 1.4 billion, 2.1 billion, and 1.6 billion US dollars of options expired at 145.95-146.00, 146.30-70, and 147.20-30, respectively, which may limit spot exchange rate fluctuations.
