Listen: Will US-Japan FX intervention be effective?
Can the yen's recent gains be sustained? ING's Chris Turner joins Bloomberg Intelligence's Audrey Childe-Freeman to discuss the outlook for USD/JPY, the risk of further intervention, the Federal Reserve and Bank of Japan policy outlooks, and alternative ways to express carry trades beyond the dollar.
A reassessment of US rate expectations following the 29 July Fed meeting, combined with stretched dollar-yen positioning and coordinated US-Japan FX intervention, created the perfect conditions for a sharp fall in dollar-yen. Yet investors are already questioning whether this move will last. In this podcast, ING's Global Head of Markets Chris Turner joins Bloomberg Intelligence Chief FX Strategist Audrey Childe-Freeman to discuss the outlook for the pair and the key policy and macroeconomic factors likely to shape the yen's trajectory in the coming months.
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