Yen at 2-year highs against the US dollar; likelihood of BoJ intervention?
Friday, June 24, 2016 4:12 AM UTC
- 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.