USD/JPY has broken above the 149 level. Economists at MUFG Bank analyze Yen’s outlook. Opposition to currency weakness remains firm We continue to see
We continue to see a high chance of intervention but only after a break above the 150 level when there is a higher chance of stops fuelling volatility and ‘disorderly’ price action that would provide the justification for the MoF to intervene.
We see the risks still skewed to the upside for both USD/JPY and USD/CNY given the US Dollar momentum but opposition to currency weakness in Tokyo and Beijing remains firm.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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