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Yen at 2-year highs against the US dollar; likelihood of BoJ intervention?

  • Markets now believe Brexit is pretty much a done deal after Birmingham voted in favor of ‘exit’.
     
  • Nikkei 225 plummets -7.3%, USD/JPY hits lowest levels since Nov 2013. How much yen appreciation will the BoJ tolerate?
     
  • Japanese finance minister Taro Aso has called in a news conference at 0415 GMT.
     
  • Aso could likely talk on the likelihood of intervention at the conference, with BOJ expected to intervene to stall the yen’s rise.
     
  • USD/JPY hits lows of 98.82 (last seen since Nov 2013), has pared some losses to currently trade around 100 levels.
     
  • Market Data
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