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USD/JPY Forecast: BoJ’s Tamura Naoki, the Zero Rate Path, and Interventions
On Wednesday, the Bank of Japan will be in the spotlight. Bank of Japan Board Tamura Naoki is on the calendar to speak. Significantly, Tamura Naoki will be the first board member to deliver a speech since the Bank of Japan exited negative rates. The USD/JPY USD/JPY $151.75 +0.24% retook the 151 handle in response to the Bank of Japan pivot from negative rates. Forward guidance signaled the BoJ could hold interest rates at zero over the remainder of 2024. A different outlook on the interest rate path would move the dial. Tamura Naoki will speak at a tumultuous time for the Japanese Yen. The Japanese government has ... (full story)