Minor FX option expiries leave dollar sentiment and risk mood as key drivers amid tech sell-off and JPY intervention risks.
FX markets face limited major option expiries for June 23, shifting focus to broader dollar sentiment and risk appetite. The S&P 500 futures dipped nearly 1% ahead of European trading, pressuring risk assets and providing modest support to the USD.
USD/JPY remains a focal point after suspected intervention or rate-check activity triggered sharp declines in US trading, followed by a swift rebound. The pair hovers near 2024 highs, raising speculation Tokyo may intervene again to curb further gains.
Defensive risk sentiment and ongoing scrutiny of JPY movements are expected to dominate currency trading sessions, with minimal expiries reducing technical catalysts.