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Sep 21 - 04:55 PM

USD/JPY - Respects BoJ Intervention Area 145, After Fed's Hawkish 75Bp Hike

By Paul Spirgel  —  Sep 21 - 02:35 PM

Corrects headline

  • USD/JPY hit a flash high at 144.70 after the Fed hiked rates 75bp

  • Traders wary of BoJ intervention near 145 push $JPY back to 144.4

  • Fed median YE 2022 FF view at 4.4%, implies 1 more +75bp hike

  • Fed sees FF rate at 4.6% by YE 2023, FF futures see peak rate 4.6% Jun '23

  • Hawkish Fed expectations may force showdown b/w traders, BoJ at 145

  • Accommodative BoJ likely to lose, Traders eye 144.99 2022 high

  • Above 145 targets include 146.55 upper 21-d Bolli, 147.63 Aug '98 high

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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