USD/JPY 160 level – potential BOJ intervention, rate hike

I posted earlier on Citi eyeing the 160 level in USD/JPY:

• ICYMI – Citi base case is for no USD/JPY intervention before 160

MUFG are also keen on that area:

• risk of intervention and/or the Bank of Japan raising earlier would rise if USD/JPY moved above 160.00
• BoJ Governor Ueda’s remarks on Monday fit with our forecast for the next rate hike to be delivered in January
• BoJ will have taken encouragement from last week’s data on the latest GDP reportshowing much stronger than expected private consumption growth in Q3 2024

This article was written by Eamonn Sheridan at www.forexlive.com.