0215 GMT - The rising risk of foreign-exchange intervention by Japanese authorities is likely to support JPY, Chang Wei Liang, FX & credit strategist at DBS Group Research, says in a report. USD/JPY has risen toward 152.00, a level implying a significant probability of intervention based on DBS's "probit" model, the strategist says. On Wednesday, if U.S. CPI data are strong and USD/JPY breaches 152.00 without any intervention, this could result in stopping-out of large-sized trades and sharp JPY weakness, the strategist says. If Japan intervenes, it has to do so on a large scale to be perceived as credible, the strategist adds. USD/JPY is steady at 151.86. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
April 08, 2024 22:16 ET (02:16 GMT)
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