FX Weekly Insights 23/10/22

This week’s FX weekly insights covers the CPC National Congress, which stressed that China is now focused on its own national security and strategic interests, and it believes the world order that permitted its market-led growth is now over. The continuation of zero-COVID policy places negative pressure on its economy, the Yuan and Chinese equities.

The key chart is USD/JPY with levels to watch being 150 and 146.50. Despite BoJ intervention, the trendline worked.