USD/JPY: FX intervention unlikely until 145 – SocGen USDJPY BOJ Banks
Officials are likely to step up verbal intervention closer to 145 in USD/JPY, in the opinion of economists at Société Générale.We now forecast a widening in the range for the 10y JGB yield from +/- 0.50% to 1.00% at the next meeting in July. This may however depend on the FOMC meeting in the US. The outlook for USD/JPY is clouded by the timing of the BoJ but also by the Fed.
Speculation of a general election this autumn also clouds the outlook for the currency and policy adjustment by the BoJ.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. You should do your own thorough research before making any investment decisions.
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