The yen seems to be in no-man's land at the moment. The underlying preference of the market is probably to buy US dollar/yen, but the intervention threat is ever-present...
The Bank of Japan lifted the short-term policy rate for the first time in seventeen years last week but the yen still languishes close to its weakest level against...
Last week, we saw the third attempt by US dollar/yen to really break through the 150 level that has proved an insurmountable barrier twice before since October 2022.
What does the inability of US dollar/yen to move too far from 150 tell us about the state of the currency market?
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