USD/JPY consolidates below 155 amid Yen weakness – BBH
|USD/JPY is consolidating yesterday’s sharp gains with the next major resistance offered at 155.00, BBH FX analysts report.
BOJ neutral stance limits support for Yen slide
"Japan Finance Minister Satsuki Katayama warned against excessive yen moves. Katayama said 'We’ve recently seen very one-sided and rapid currency moves…The government is closely monitoring excessive or disorderly movements in the foreign exchange market, including those driven by speculative moves, with a high sense of urgency'."
"Katayama’s warning on yen volatility rings hollow. A more hawkish Bank of Japan (BOJ) yesterday would’ve done more to support JPY. Instead, the BOJ’s laid-back policy stance means any intervention will only slow, not stop the yen’s slide. The BOJ would be throwing good money after bad."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.