Intervention Risk and Hawkish BoJ Support Yen – BBH
Brown Brothers Harriman notes that USD/JPY briefly fell to 158.00 on suspected Japanese intervention before rebounding near 161.00 and then declining again.
USDJPY
The yen found support from hawkish Bank of Japan expectations and the threat of currency intervention, according to Brown Brothers Harriman’s Elias Haddad.
USD/JPY briefly plunged about five big figures to 158.00 on suspected intervention, then rebounded near 161.00 before dropping once more.
The analyst highlighted that intervention risk and the BoJ’s more restrictive stance are key factors buoying the yen.
Source: FXStreet Forex News