Japanese Yen: Intervention drop seen capped near 153 – TD Securities
TD Securities strategists see the recent intervention-driven USD/JPY decline as cyclical rather than regime-changing. They expect December as the more likely timing for the next Bank of Japan (BoJ) hike and doubt sustained joint US‑Japan intervention support.
TD Securities analysts view the recent intervention-driven USD/JPY decline as a cyclical trend rather than a lasting change. They anticipate December as the more probable timing for the Bank of Japan's next rate hike and remain skeptical of sustained joint US-Japan intervention support. Without robust US official flows, they predict USD/JPY may drift towards 153.00 in the near term, though they maintain a year-end forecast of 159.00.
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