The Nikkei has published details of Prime Minister Yoshihide Suga’s request to officials at Japan’s Ministry of Finance not to allow USD/JPY to fall below 100, a request that was confirmed by a number of sources. “Make sure the yen-dollar exchange rate does not cross the 100 yen mark.” Market implication Central bank intervention is a dangerous path to tread, just ask the Bank of England, for the market is far larger than any central bank. However, it is a ling in the sand now for the market to be aware of and the psychology is that the market knows there will be a big buyer below 100.00 to target. Going back as far as Sep 96, the market has rarely sustained an offer below 100 for a significant period of time until 2008 which lasted a number years until 2014. Then, the last time the price fell below 100 was in 2016. USD/JPY reached a low of just a few pips below 99.00 and ranged between 99.5 and 107 for the summer until Nov when it rallied to the 118s. USD/JPY has since been as low as 101.18 during the pandemic of March 2020. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US Fiscal Stimulus: House Speaker Pelosi said to be insisting on a House vote Sunday FX Street 1 year The Nikkei has published details of Prime Minister Yoshihide Suga's request to officials at Japan's Ministry of Finance not to allow USD/JPY to fall below 100, a request that was confirmed by a number of sources. "Make sure the yen-dollar exchange rate does not cross the 100 yen mark." Market implication Central bank intervention is a dangerous path to tread, just ask the Bank of England, for the market is far larger than any central bank. However, it is a ling in the sand now for the market to be aware of and the psychology is that the market knows there will be a big… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
