Standard Chartered says Japan 'very, very close' to yen intervention
Publishing timestamp: 2024-03-28 01:34:22
Summary
Standard Chartered Bank's Steven Englander believes that Japan is very close to intervening in the yen to buy time until the US Federal Reserve cuts interest rates or the Bank of Japan hikes its rates. The yen is currently at multi-decade lows, prompting speculation of potential intervention. Japan's finance minister and other officials have indicated that measures to respond to disorderly FX moves are being considered. Englander noted that previous interventions in the yen have been effective, and the Bank of Japan recently ended its negative interest rates regime. The Fed, on the other hand, held its benchmark rate steady and signaled plans for multiple rate cuts before the end of the year.
Sentiment: NEUTRAL
Tickers: JPY=,
Keywords: usd/jpy, business news, currency markets, asia economy,