Remarks from analysts at Bank of America in Tokyo. Saying that with the mere jawboning from Japanese currency authorities and the lack of any concrete action:
- "Market players have become emboldened because they didn't see any action [by the currency authorities] in response to the breach of key ... levels,"
- "They now reckon that the authorities have a wider tolerance range than they previously thought. They are now gunning for 147"
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Earlier post on that 147 target:
Bank of Japan Governor Kuroda was wheeled out on Friday:
USD/JPY was capped ahead of 145 last week:
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