I posted earlier on Citi eyeing the 160 level in USD/JPY:
MUFG are also keen on that area:
- risk of intervention and/or the Bank of Japan raising earlier would rise if USD/JPY moved above 160.00
- BoJ Governor Ueda's remarks on Monday fit with our forecast for the next rate hike to be delivered in January
- BoJ will have taken encouragement from last week's data on the latest GDP reportshowing much stronger than expected private consumption growth in Q3 2024
