34
The USD/JPY climbed above the 150.00 mark following the Bank of Japan’s decision to eliminate negative interest rates and yield curve control. Kit Juckes, Chief Global FX Strategist at Société Générale, assesses the outlook for the currency pair.
A well-flagged BoJ move has emboldened Yen bears
The Bank of Japan has terminated the era of negative rates and yield curve control.
“I’m disheartened by the market’s response to the BoJ decision because there’s a strong likelihood that this will eventually mark a significant turning point for Japan and the BoJ.”
Looking ahead to Wednesday’s FOMC, USD/JPY at 152.00 now emerges as a significant psychological threshold.
