RBC: The market is closely focused on the psychological level of 152 in the United States / Japan The yen is at risk of falling further

WendyCS

2024-03-27 03:57:36

Alvin T. Tan, head of Asia FX strategy at Royal Bank Capital Markets, said in his commentary that the market is vigilantly staring at the psychological level of 152.00 for USD/JPY. Tan said that fears of a possible FX intervention by the Japanese authorities have not led to a sharp pullback in USD/JPY and are currently limiting the pair’s movements. Tan added that low volatility and a significant disadvantage in JPY yields suggest that there is a risk of further upside for USD/JPY in the coming weeks, unless there is a significant change in the global macroeconomic environment.

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