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Home»Finance»Bloomberg: “Traders on Intervention Watch as Yen Hovers Below 150 to Dollar”
Finance

Bloomberg: “Traders on Intervention Watch as Yen Hovers Below 150 to Dollar”

finvestadminBy finvestadminSeptember 21, 2023No Comments1 Min Read
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If traders are indeed watching for intervention and are reluctant to buy USD/JPY ahead of the 150 level, where many believe the Bank of Japan may intervene, then they should be willing to take a rise in the USD. It’s a bit contradictory that there is very little profit taking from longs to the highs to delay. /JPY.

bloomberg (Gated) The following articles have been posted ahead of the Bank of Japan’s statement scheduled for tomorrow.

  • Markets are on edge ahead of the Bank of Japan’s policy decision on Friday, awaiting further details on the outlook for negative interest rates and Governor Kazuo Ueda’s views on the weaker yen.
  • The currency appeared to be stuck early on Thursday, with the widening yield gap with the US weighing on it, while the risk of intervention providing support.

There was a fairly weak verbal intervention from Japan’s Chief Cabinet Secretary Matsuno at the beginning of the session here. The impact on USD/JPY was not that big, only pushing it down by a few points. Mr. Matsuno is trying to keep the yen from weakening as the yield on two-year U.S. Treasuries hits a 17-year high, making carry trades even more lucrative.

Bloomberg Dollar hovers intervention Traders WATCH Yen
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