ING: USD/JPY Intervention Risks Rise as Yen Weakens Above 162
ING strategist Chris Turner warns that USD/JPY grinding above 162 raises intervention risks, noting higher energy prices pressure Asian currencies. Japanese authorities may act ahead of Marine Day, following last year's pattern.
USDJPY
ING's Chris Turner highlights that USD/JPY is edging higher above the 162 level, driven by rising energy costs that are weighing on Asian currencies. The persistent yen weakness increases the likelihood of Japanese intervention.
Turner suggests that authorities could follow a similar intervention pattern to last year, with potential action coming ahead of the Marine Day holiday. The exact timing remains uncertain, but the risk is seen as elevated.
Source: FXStreet Forex News