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- USD/JPY moving closer to 150 will put more pressure on the government to intervene to support the Yen – MUFG
USD/JPY moving closer to 150 will put more pressure on the government to intervene to support the Yen – MUFG
USD/JPY has soared toward 148.00 ahead of the latest policy update from the BoJ in the week ahead. Economists at MUFG Bank analyze the pair’s outlook.
Will BoJ Governor Ueda push back further against JPY weakness by talking up rate hike risks?
Market attention will now turn to comments from Governor Ueda at this week’s policy meeting to see what message he delivers over the future timing of rate hikes and what level of unease he displays over recent Yen weakness.
If BoJ Governor Ueda steps back from providing a strong signal over the possibility of rate hikes by the turn of the year, it will increase the burden on the Japanese government to support the Yen through intervention like late last year if the USD/JPY jumps back above the 150.00 level and moves to retest last year’s high at 151.95.
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