Yen intervention thoughts from Standard Chartered

Standard
Chartered shared some of their thoughts on possible Yen intervention:

• Expecting
  intervention above 152, but actual line in the sand likely somewhat higher and
  variable.
• As
  markets are stretched short JPY the intervention should succeed, but Japan
  might have to spend more than they did in 2022.
• A strong
  beat in US CPI that forces US yields higher could diminish effectiveness of
  intervention.
• JPY short positioning at highest since 2007
  but don’t expect intervention until US CPI and post-CPI reaction has played
  out.

This article was written by Arno V Venter at www.forexlive.com.