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USD/ JPY Below 155-lv for First Time since End-Jul; JPY100/ HKD Back to 5
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USD/ JPY busted below the 155-mark for the first time since the end of July, heightening the odds that the Japanese government will step in the FX market. USD/ JPY bottomed at 155.15 today, and last dipped 0.6% to 155.07. JPY100/ HKD was 5.0153, as the rise in U.S. bond yields after Trump's election to the presidency is putting pressure on the yen, with two-year U.S. bond yields at a new high since July. Shoki Omori, chief strategist for Japan at Mizuho Securities, commented that the US inflation, PPI and retail sales data could cause the yen to depreciate rapidly if Japan's finance ministry does not intervene verbally. On the other hand, the strategist predicted that if the Bank of Japan does not raise interest rates and the Federal Reserve's monetary policy is no longer dovish, the yen could touch 158 to the US dollar by the end of this year. AAStocks Financial News |
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