Wide yield differentials have led to USD/JPY to revisit its 2022 high near 152. Economists at TD Securities They analyze the pair’s prospects.
Warnings of intervention in the foreign exchange market could be insufficient to signal a change in trend in the Yen
Warnings of intervention in the foreign exchange market have intensified, but could be insufficient to signal a change in trend in the Yen.
Without the BOJ exiting the NIRP, it is difficult to make a bullish case for the JPY given the fundamentals. Finance Ministry officials are likely to be buying time for the Bank of Japan and opt to ease pressure on the USD/JPY through foreign exchange market interventions as Yen weakness has become an issue. policy for the government amid rising cost of living pressures.
Positioning for a 145-150 operating range between now and Q2 2024.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
