Markets likely now see the 163-165 yen range as the next key technical and psychological target for the dollar, says Masahiko Loo at State Street Investment Management in an email. This range is where "both positioning and policy risk become more acute," the senior fixed-income strategist says. "Intervention risk should not be underestimated as USD/JPY pushes toward 163-165," Loo says. The "probability of action rises materially and coordinated signaling with the U.S. Treasury cannot be ruled out, especially if a break above 163 triggers stop-driven momentum toward 165," Loo adds. The dollar is 0.2% higher at 162.25 yen, according to LSEG data. (ronnie.harui@wsj.com)
Dow Jones Newswires
Markets Likely See 163-165 Yen Range as Next Target for Dollar — Market Talk
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Markets likely now see the 163-165 yen range as the next key technical and psychological target for the dollar, says Masahiko Loo at State Street Investment Management in an email. This range is where "both positioning and policy risk become more acute," the senior fixed-income strategist says. "In…