The Japanese Yen has remained under pressure in global markets with the USD/JPY exchange rate surging to fresh 34-year highs at 155.75 with no Bank of Japan (BoJ) intervention to support the currency. The Pound to Yen (GBP/JPY) exchange rate also posted 8-year highs above the 194.00 level. According to MUFG; “Apart from the risk of FX intervention and the yen being deeply undervalued, there seem to be no other major drivers to reverse the USDJPY uptrend for now. Japan’s real policy rate is negative, despite the exit from negative interest rate last month.” It added; “And we expect the BOJ to stand pat at its upcoming ... (full story)