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Apr 12 - 02:55 PM

JPY: Verbal Intervention Slowly Gets Louder - Citi

By eFXdata  —  Apr 12 - 01:30 PM

Citi flags a scope for more verbal JPY intervention as USD/JPY hovers around 125.

"USDJPY slips as Finance Minister Suzuki says Japan will monitor the impact of the FX rate with vigilance, reports Bloomberg. This comes following a definitive break of 125 level during Monday’s session and appears to be a modest step-up in the verbal intervention vernacular," Citi notes. 

"CitiFX strategist last week noted that verbal intervention is likely to become louder as USDJPY reaches 125 level, however not expecting any actual action before at least 130 is met, and even then it is not a certainty," Citi adds. 

Source:
Citi Research/Market Commentary

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