Economists see currency intervention as unlikely to curb yen weakness
The Japanese government’s efforts to intervene in the currency market have not yielded desired results, with USD/JPY climbing back to 158.50.
This is the highest level in two weeks, marking the time when they first intervened in the market this year.
The Bank of Japan may raise interest rates to 1.25% in Q4, while 65% of economists anticipate a rate hike to 1.00% in June.