[MARKET ANALYSIS] USD/JPY rebounds after suffering its largest drop since December 2023 on intervention

DXY: +0.2%Regains some composure after weakening yesterday in a continuation of the post-FOMC fallout and following a slew of data, although the main driver was the recent advances in the yen owing to Japanese intervention, and with the US conducting a rate check on the yen, while South Korean FX authorities were said to have conducted rare dollar-selling intervention on Thursday.EUR/USD: -0.1%Holds on to most of the prior day's spoils after reclaiming the 1.1500 handle as the dollar softened, while there was also a slew of recent data from the bloc including better-than-expected GDP.GBP/USD: FlatTakes a breather after returning to the 1.3400 territory and after the currency was largely unfazed by the hawkish BoE vote split and dovish-leaning comments from Governor Bailey.USD/JPY: +0.6%Rebounds overnight and returned to the 160.00 level after suffering its largest intraday drop since December 2023 due to Japan's government and the BoJ intervening, while US authorities conducted rate checks on the yen. Nonetheless, the attention now turns to the BoJ policy decision, with the central bank widely expected to pause following the last meeting's rate hike, although some have suggested that the recent intervention could raise the risk of a surprise today.Antipodeans: AUD/USD -0.1% / NZD/USD -0.1%Traded little changed after gaining yesterday and with little reaction seen to the disappointing Chinese PMI data.