Dollar's 160 Yen Level Proven to Be a 'Formidable Line in the Sand' -- Market Talk
Dow Jones03-20 10:49
0249 GMT - Dollar's 160 yen level has "once again proven to be a "formidable line in the sand," DBS Group Research's Philip Wee says in commentary. "The market is currently unwilling to test [Japanese] Finance Minister Katayama's explicit threats of decisive steps and physical intervention," the senior FX strategist says. "Both the government and the BOJ now view persistent JPY weakness as a primary driver of imported cost-push inflation," Wee says. This could cap the dollar's upside and shift focus to a correction of this month's rally of the dollar versus Japan's currency, Wee adds. The dollar is 0.4% higher at 158.28 yen, LSEG data show. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
March 19, 2026 22:49 ET (02:49 GMT)
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