Japanese Yen futures record strongest weekly gain since February.

Japanese Yen futures posted their strongest weekly percentage gain since early February, rising 1.43% despite a minor pullback on Friday. The rally was driven by an estimated $34.5 billion intervention by Japanese authorities, their first significant market entry since 2024. This move sought to stabilize the currency after it reached a one-year low against the Dollar. Looking ahead, the market faces potential volatility as Japan enters the Golden Week holiday period. With Japanese markets closed through May 6, liquidity is expected to thin significantly. Bob Iaccino discusses how these holiday conditions could amplify price swings or allow for a partial Dollar recovery. While Japanese officials have not officially confirmed the intervention, the surge in activity at CME Group on Thursday highlights the heightened focus on the Yen's trajectory.