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USD/JPY Forecast: Yen Finds Breathing Room Amidst Intervention Whispers
On Tuesday, the USD/JPY declined by 0.58%. Reversing a 0.36% rise from Monday, the USD/JPY ended the day at 148.985. The USD/JPY rose to a high of 150.160 before falling to a low of 147.273. Intervention Speculation Offers Yen Respite Speculation about an intervention delivered a trend-bucking gain for the Yen on Tuesday. Despite the intervention speculation, the Bank of Japan’s (BoJ) stance on monetary policy will likely leave the Yen on the back foot. Bank of Japan Governor Ueda recently reiterated the parameters for a shift away from negative rates. A pickup in wage growth and a bounce in consumption would raise ... (full story)