Citi says Japan's MOF To Be Forced To Intervene If USD/JPY Breaks 100

Discussion in 'Fundamental Analysis' started by ForexLive, Sep 29, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    Citi on the lookout for intervention points in USD/JPY - this via eFX If the BoJ had not announced the new framework last week, pressure from the market and the politics would have forced it to adopt additional easing at its next policy meeting on Oct 31/Nov 1. That would have triggered further JPY strengthening and a fall in stock prices that would most likely have completely destroyed the BoJ's credibility. As it is, because the Bank didn't exert any concrete measure such as additional interest rate cuts last week, it could save them for next year while avoiding such fatal failure.

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