USDJPY: The return of USD and the bad things of JPY

As Japanese authorities implement measures to safeguard the currency, USD/JPY experiences slight declines around 143.20 on early Thursday. The movements of this Yen pair are influenced by a combination of cautious optimism in the market and the US Dollar's retreat before several US economic indicators are released.

Earlier today, Kazuo Ueda, Governor of the Bank of Japan (BoJ), indicated an increased tolerance range for benchmark 10-year Japanese Government Bonds (JGBs) from 0.5% to 1.0%. This action has resulted in JGB yields reaching their highest point since 2014.