Institution: Probability of US-Japan Joint Currency Intervention Significantly Increasing

BlockBeats News, January 26th, Daiwa Investment Management's senior fixed income strategist Masahiko Loo stated that the probability of a US-Japan joint intervention in the exchange rate has significantly increased and mentioned the interest rate check report on Friday. "From a historical perspective, the Ministry of Finance's interest rate check is a precursor to action," he said. "If there is no actual follow-up action, it will fuel speculative pressure because the market will test the authorities' determination by further suppressing the yen," Loo said, "Setting aside timing, the market's 'bottom line' is very clear: 162, the level at the time of the last intervention," he added. (FXStreet)