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USD/JPY Holding Below Y149.00 as Overnight Vols Surge

JPY
  • JPY is the poorest performer headed into the European open as markets bounce after suspected intervention on Friday (and possibly overnight). Authorities rolling out now familiar language on FX vigilance, but is having little impact on the pair which continues to bump against the 149.00 figure having recovered off 145.56 overnight lows.
  • Nearby tech levels are scant given the acute volatility Friday/Overnight, with 149.71 marking the first upside level ahead of Friday's 151.95. BoJ policy meeting Friday now the focus, with bank exp. To boost CPI forecast, cut growth view.
  • [RTRS] JAPAN PM KISHIDA: FX MOVES ARE DRIVEN BY VARIOUS FACTORS, CANNOT SAY WHICH ARE MAIN DRIVERS BOTH FOR SHORT-, MEDIUM-TERM PERSPECTIVE* GOVT WILL TAKE APPROPRIATE ACTION VS EXCESSIVE FX VOLATILITY
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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