- Analytics
- News and Tools
- Market News
- USD/JPY still seen at 147 on a three-month view as intervention is unlikely to turn the pair lower – Rabobank
USD/JPY still seen at 147 on a three-month view as intervention is unlikely to turn the pair lower – Rabobank
The MoF has actioned intervention in the FX market this morning for the first time since 1998 in support of the Japanese yen. Nevertheless, economists at Rabobank continue to target USD/JPY 147.00 on a three-month view.
Divergence between Fed and BoJ policy continues to signal upside potential
“According to Vice Minister of Finance for International Affairs Kanda, the intervention was triggered by the sudden and one-sided nature of the moves in the JPY.”
“Earlier this morning the BoJ reiterated its commitment to its ultra-loose monetary policy settings. This was just hours after the Fed outlined its very hawkish policy outlook. As a consequence, it is unlikely that the MoF expects the intervention to turn USD/JPY lower. Instead, today’s action is likely aimed at slowing down the pace of gains in USD/JPY.”
“In view of our bullish USD view, we retain a three-month target of USD/JPY 147.00.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
