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.”
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.