Research Team at BofAML, suggests that there has been a lot of activity all night in terms of volumes, very similar to the Brexit vote night, Athanasios Vamvakidis, a London-based strategist at BofAML, says in interview.
“• BOJ won’t waste bullets yet and will wait for markets to stabilize.
• Expects BOJ intervention only if USD/JPY drops to levels well below 100.
• There is room for MXN to overshoot.
• SNB’s implicit target for EUR/CHF at 1.0800; if pair goes below, the central bank could intervene, as after the U.K. referendum, Vamvakidis says.
• USD/JPY down 3.2% to 101.82, while EUR/CHF up 0.1% to 1.0795; USD/MXN surges 12% to 20.53.”
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