Japanese Yen Unlikely To Further Weaken, Says This Macro Strategist
On CNBC, Mayank Mishra of Standard Chartered Bank said the latest comments from policymakers continue to show growing concerns around the weakness in the Japanese yen.
Japan's finance minister Shun'ichi Suzuki said earlier this week that gradual weakness in the Japanese currency is "still concerning."
Mishra stated, however, that it is not just about the pace of moves anymore, but levels do matter as well.
The scope for further weakness in the yen is limited from here, but Japan will continue to intervene in the currency market. Mishra mentioned that the same will not prove sufficient in case treasury yields continue to rise and, in that case, it would "lead to some kind of YCC adjustment."
Price Action: The USD/JPY pair fell 0.42% to 147.66 at the time of publication on Friday.
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