JPY Intervention - Unilateral Or Joint Will Be Key
ING Economic and Financial Analysis
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2026-04-30
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via All Articles on Seeking Alpha
Summary
- High oil prices, the Bank of Japan's hesitation to hike, and a slightly hawkish FOMC have all driven USD/JPY above 160 this week.
- Japan's Finance Minister is threatening that FX intervention is imminent.
- But unless the US Treasury gets involved in joint intervention, any Japanese intervention will not depress USD/JPY for long.
Dilok Klaisataporn/iStock via Getty Images
By Chris Turner, Global Head of Markets and Regional Head of Research for UK & CEE
"Nearing time to take bold steps"
Having pushed up to a high of 160.70 in Asia, USD/JPY has fallen
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