Fed Decision May Push USD/JPY to 164, Raising FX Intervention Risk on July 29

USDJPY-0.11%
According to Jin10 and Sumitomo Mitsui Bank Chief FX Strategist Hirofumi Suzuki, on July 29, the Federal Reserve's interest rate decision and Federal Reserve Chair Jerome Powell's remarks may push the USD/JPY exchange rate to the 164 level. If this occurs, given that Japanese financial authorities have strengthened warnings, the likelihood of foreign exchange intervention appears to rise notably. A potential trigger could emerge if the yen continues to depreciate following Friday's Bank of Japan monetary policy meeting.
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