JPY is the strongest G10 currency, with USD/JPY falling from above 162 to around 161.0, amid reports Japanese authorities may be shifting away from calibrated jawboning toward more surprise-based intervention tactics, says NAB in a note to clients. The issue for JPY remains that fundamentals still point to weakness--deeply negative real yields, slow BoJ normalization and continuing JGB purchases--but thin U.S. holiday liquidity raises the tactical risk of intervention, NAB adds. (james.glynn@wsj.com; @JamesGlynnWSJ)
Dow Jones Newswires
Thin Holiday Market Raises Risk Of Further Tactical Yen Intervention — Market Talk
JPY is the strongest G10 currency, with USD/JPY falling from above 162 to around 161.0, amid reports Japanese authorities may be shifting away from calibrated jawboning toward more surprise-based intervention tactics, says NAB in a note to clients. The issue for JPY remains that fundamentals still…