Zhao Eyes Yen Sell-Off if Japan Intervenes Again

UBS Asset Management's Kevin Zhao is ready to sell Japanese yen if Japan intervenes again in the currency market, he said. This would be an opportunity to sell based on past experience, as Zhao previously sold the yen when Japanese authorities intervened earlier this year. He expressed doubts that Friday's central bank rate increase signals a hawkish turn.

Zhao is waiting for the next trigger to take action. His stance reflects his previous decision to sell the yen during intervention, which he believes would be repeated in similar circumstances.