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BOJ YCC pivot shock: "USD/JPY could be into the 120’s sooner than we expected" says MUFG
A snippet from MUFG on the Bank of Japan surprise yesterday, on yen implications:
- this decision will impact all FX market players – corporate hedging behaviour; investor hedging behaviour; speculative behaviour; and capital flows.
- The shift from the BoJ merely reinforces a strong and compelling view that the divergence at the heart of the surge in JPY selling in 2022 is going to reverse in 2023, resulting in a reversal of JPY selling that took the Yen to record levels of un... Read More
Posted: Dec 20 2022, 23:04
Author Name: forexlive
Views: 102675