<\/p>\n
Japan\u2019s verbal interventions are ineffective. Periods of quiet volatility may continue to push USD\/JPY<\/a> higher, with a new line in the sand for intervention now close to 165, ING\u2019s FX analyst Francesco Pesole notes.<\/p>\n \u201cObserving the Yen\u2019s most recent demise, it is clear that Japan\u2019s verbal interventions are ineffective. Despite some softer US data, speculative selling pressure on the Yen remains elevated.\u201d<\/p>\n \u201cPeriods of quiet volatility may continue to push USD\/JPY higher, with a new line in the sand for intervention now close to 165, in our view. Crucially, large FX sales in 2Q proved to be only a temporary solution, meaning more pressure on the BoJ to hike.\u201d<\/p>\n \u201cMarkets are pricing in 6bp for the 31 July Bank of Japan meeting. We are more hawkish, narrowly favouring a 15bp July hike and another move by year-end. The BoJ<\/a> can help the Yen, although our bearish USD\/JPY profile primarily relies on Fed<\/a> cuts.\u201d<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Japan\u2019s verbal interventions are ineffective. Periods of quiet volatility may continue to push USD\/JPY higher, with a new line in the sand for intervention now close to 165, ING\u2019s FX analyst Francesco Pesole notes. BoJ verbal interventions bare no effect \u201cObserving the Yen\u2019s most recent demise, it is clear that Japan\u2019s verbal interventions are ineffective. […]<\/p>\n","protected":false},"author":2,"featured_media":341452,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[299,201,367,248,251,246,257,255,250,252,247,253,249,308,275,256,254],"class_list":["post-341441","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-banks","tag-blockchain","tag-boj","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-technical-analysis","tag-usdjpy","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/341441","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=341441"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/341441\/revisions"}],"predecessor-version":[{"id":341442,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/341441\/revisions\/341442"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/341452"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=341441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=341441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=341441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}BoJ verbal interventions bare no effect<\/h2>\n