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Metals Rally Linked To Dollar And Yen Moves
- Gold and silver surged as the dollar hit a four-month low and traders eyed possible FX intervention.
- Markets tied bullion gains to unusual yen moves and talks of Treasury/New York Fed rate checks.
Fed's Rate Check Could Foreshadow FX Intervention
- The New York Fed's rate check on yen trading signaled possible FX intervention, an uncommon step.
- Such checks historically precede direct intervention and may be coordinated with the BOJ for effectiveness.
Fed Chair Odds Are Volatile And Possibly Noisy
- Betting markets shifted on Fed chair odds with Rick Reeder gaining traction despite uncertainty about inside info.
- Observers warned surges in odds may reflect noise rather than presidential intent.