USD/JPY: Japanese authorities may intervene somewhere in the 153.00-155.00 range – ING

Market news

28 March 2024

USD/JPY: Japanese authorities may intervene somewhere in the 153.00-155.00 range – ING

Speculation over Japanese FX intervention remains high. Economists at ING analyze the USD/JPY outlook after the pair touched a multi-decade high near 152.00 on Wednesday.

Higher US rates and low volatility weigh

We suspect Japanese authorities would pull the trigger were USD/JPY to burst through the 152.00 area, intervening perhaps somewhere in the 153.00-155.00 range.

With US interest rate volatility collapsing and much demand for the carry trade, it is, however, hard to see much of a market-led move lower in the USD/JPY pair.

Ireland Retail Sales (YoY): 1.1% (February) vs previous 2.7%

Belgium Consumer Price Index (MoM) declined to 0.55% in March from previous 0.71%

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