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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Nomura predicts that Japanese authorities are likely to intervene in the currency market to support the Yen if USD/JPY reaches the 161 to 163 range. Japanese authorities have stepped up verbal intervention after USD/JPY briefly rose above 160. Middle East tensions and high crude oil prices are contributing to persistent upward pressure on USD/JPY. The Yen may find near-term support if the BOJ branch managers’ meeting increases the likelihood of an April rate hike.