0933 GMT - USD/JPY could still rise back up to 160, once Japanese intervention ends, should the U.S. economy remain upbeat, Mark Dowding, chief investment officer of BlueBay, RBC BlueBay Asset Management, says in a note. This could put the Bank of Japan in a more difficult position, as well as acting as a potential catalyst for additional volatility in global financial markets, he says. Dowding argues that the BOJ should cease balance-sheet expansion as soon as possible. The central bank "needs to adjust its mindset, before it is even more behind the curve and does more damage in the event that the yen continues to move lower," he says. USD/JPY falls 0.4% to 153.027. (emese.bartha@wsj.com)
(END) Dow Jones Newswires
May 03, 2024 05:33 ET (09:33 GMT)
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