USD/JPY Held Back by Intervention Risk, Trades Within Tight Range

The US Dollar has strengthened against the Japanese Yen, but intervention warnings from Tokyo are keeping the Yen supported.

According to BBH's Elias Haddad, Japan's top currency diplomat Atsushi Mimura emphasized that markets should heed the 'very clear' message sent by Tokyo and Washington on yen weakness.

This warning has constrained moves in the USD/JPY pair, leading BBH to expect it to trade within a 155.00-160.00 range in the near term.