• USD/JPY: Another leg higher needed for actual FX intervention to be deployed – ING

Noticias del mercado

27 marzo 2024

USD/JPY: Another leg higher needed for actual FX intervention to be deployed – ING

The most notable moves in G10 since the start of the week have been the further sell-off in G10 low-yielders: Swiss Franc (CHF) and Japanese Yen (JPY). Economists at ING analyze CHF and JPY outlook.

Japanese authorities look at the rate of change more than levels

CHF has been a bigger underperformer, with a dovish Swiss National Bank that no longer targets a stronger CHF adding pressure on the currency, and we think it may be too early to pick a bottom.

USD/JPY touched 152.00, continuing to test Japan’s FX intervention tolerance. This may still be only a ‘verbal intervention’ range, with another USD/JPY leg higher needed for actual FX intervention to be deployed (perhaps closer to 155.00). Remember that Japanese authorities look at the rate of change more than levels.

 

Enfoque del mercado
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Abrir cuenta demo y página personal
Entiendo y acepto la Política de Privacidad y estoy de acuerdo con que mi nombre y datos de contacto sean procesados por TeleTrade y utilizados para contactarme en lo referente a: