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Nov 13 - 05:55 AM

USD/JPY - No USD/JPY Intervention Until 155.00 - Citibank Say

By Richard Pace  —  Nov 13 - 03:45 AM
  • USD/JPY threatens Oct 2022 and 30-year high at 151.94

  • Intervention would now appear less of a concern at current levels

  • Recent official comments were more concerned with FX volatility

  • Citibanks FX strategy are looking for intervention closer to 155.00

  • Option barriers expected at 152.00 and bigger at 153.00

  • Break above barriers could increase short gamma and s/term FX volatility

  • FX option implied volatility and its downside strike premiums are low

  • That's consistent with risk appetite and lack of FX realised volatility

  • Also suggests risk of increased FX volatility/spot drop remain low for now

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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