Rabobank: High Expectations for Yen Intervention on Friday, but Effect Likely to Be Limited
Odaily reports that Rabobank analyst Jane Foley stated that speculation is mounting in the market that Japanese authorities may take advantage of the light trading during the US holiday on Friday to intervene in the yen. In fact, it could be more surprising if Japanese authorities take no action.
She said that further intervention seems inevitable, but intervention alone is unlikely to be enough to change the market’s negative view of the yen. The weakness of the yen is partly due to the strength of the US dollar, and the rise of the Japanese stock market may prompt foreign investors to strengthen protection measures against the risk of yen depreciation. (Golden Ten Data)
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