The yen's move past 162 to the dollar raises intervention risks, with the level seen as the line where officials could step in, Maybank analysts say. So far, there is no clarity on if intervention is going to occur or occurring, but there has been continued jawboning from officials, they write in a note. Maybank stays alert for the sharp moves that can be associated with intervention, noting ample ammunition in deposits and securities far eclipsing the last round of intervention that cost an estimated $74 billion. "At this point, we watch if the pair can hold above the 162.00 mark for the near term with the next resistance at 164.00." Maybank pegs support at 158.00 and 155.00. Yen last at 162.14. (fabiana.negrinochoa@wsj.com)
Dow Jones Newswires
Japan Has Ample Yen Intervention Ammunition to Deploy — Market Talk
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The yen's move past 162 to the dollar raises intervention risks, with the level seen as the line where officials could step in, Maybank analysts say. So far, there is no clarity on if intervention is going to occur or occurring, but there has been continued jawboning from officials, they write in a…