According to Jin10, Hirofumi Suzuki, chief FX strategist at Sumitomo Mitsui Banking Corp., said the Federal Reserve’s rate decision and remarks from Fed Chair Waller could push USD/JPY to the 164 level. He said that if the pair reaches that point, the likelihood of foreign-exchange intervention would rise notably because Japanese financial authorities have already stepped up their warnings. Suzuki also said continued yen weakness after the Bank of Japan’s monetary policy meeting on Friday could become a trigger for intervention. The comments center on the exchange-rate outlook and the risk of official action if pressure on the yen persists.
ChainCatcher reported, citing Jin10, that Hirofumi Suzuki, chief FX strategist at Sumitomo Mitsui Banking Corp., said the Federal Reserve’s rate decision and remarks from Fed Chair Waller could push USD/JPY to the 164 level.
Suzuki said that if that happens, the probability of foreign-exchange intervention would rise markedly, given that Japanese financial authorities have already strengthened their warnings. He added that if the yen continues to weaken after the Bank of Japan’s monetary policy meeting on Friday, that could become a trigger for intervention.
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