USD/JPY: Level fundamentally justified from market’s point of view is much higher than 150

Indonesia Berita Berita

USD/JPY: Level fundamentally justified from market’s point of view is much higher than 150
Indonesia Berita Terbaru,Indonesia Berita utama

It seems to be the case that, shortly after the start of FX trading in Asia, USD/JPY briefly traded above the important level of 150. Economists at Co

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mmerzbank analyze the pair’s outlook. Market assumption that 150 constitutes the MOF’s line of defense can turn into a self-fulfilling prophecy The extremely small distance of the exchange rate to 150 constitutes a sign that the exchange rate fundamentally justified from the market’s point of view is much higher than 150.

If the MOF were to not intervene after a serious breach of 150, we would have to expect a very, very significant jump of the JPY exchange rates. That is not likely to be what the MOF wants. As a result, it will have no choice but to take action when a serious breach of 150 arises. The market assumption that 150 constitutes the MOF’s line of defense can turn into a self-fulfilling prophecy.

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