USD/JPY intervention risks back in focus as Bessent, Katayama head to Bangkok
EUR/USD — All Desk Targets
| Firm | Stance | YE 2026 |
|---|---|---|
UOB | Bearish | 1.1140 |
ABN AMRO | Bullish | 1.1500 |
Bank of America | Bullish | 1.1500 |
All 28 desk targets for EUR/USD
From the original
Well, here we go again. Chatter on yen intervention has quiet down for a bit in the past two weeks, but next week will serve as an opportunity for Japanese and US officials to put the issue back on the table. All eyes will turn to Bangkok as US Treasury secretary Bessent and Japa
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4 itemsBessent heads to Tokyo pressing Japan on yen weakness and intervention
Lead — The desk interprets US Treasury Secretary Bessent's recent visit to Tokyo as a pivotal moment in the ongoing debate over Japan's monetary policy and currency management. Bessent's preference for Bank of Japan (BOJ) rate hikes over yen intervention highlights the growing concern regarding the impact of Japanese financial flows on US Treasury yields. Per the full note [source], Bessent's advocacy for rate hikes comes amid speculation of a potential BOJ tightening as early as next month, which could significantly influence market dynamics. The desk notes that the current consensus target for USD/JPY reflects a cautious stance amidst these developments.
USD/JPY continues to test the waters at the 160 mark
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