- Analytics
- News and Tools
- Market News
- Japan's MoF would prefer USD/JPY below 150 – TDS
Japan's MoF would prefer USD/JPY below 150 – TDS
Japan's MoF aggressively intervened to support the yen. More interventions are in the offing ahead of Friday's Bank of Japan (BoJ) meeting, according to economists at TD Securities who believe that MoF would prefer USD/JPY below 150.
Intervention is unsustainable
“The timing of this intervention looks intended to maximize pain for 'speculators'. Indeed, it occurred in poor liquidity conditions and just as Fed officials appeared en masse with a well-timed article drop about downshifting the path of hikes. Together, that setup offers the most bang for the buck on the intervention front and may suggest more success at trying to contain USD/JPY topside, in the very short-term at least.”
“We would not be surprised to see more intervention ahead of the BoJ meeting to drive home the point. If not there, then at the meeting itself.”
“While intervention is unsustainable, we think the MoF would prefer USD/JPY below 150, even if they have not explicitly said so.”
© 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
