The Fed decision may push USD/JPY up to 164 yen

ChainCatcher news, according to Golden Ten Data reports, Hirofumi Suzuki, Chief Foreign Exchange Strategist at Sumitomo Mitsui Banking Corporation, stated that the US Federal Reserve's rate decision and the speech by Fed Chair Powell may drive the USD/JPY exchange rate up to the 164 yen level. If this occurs, given that Japanese financial authorities have strengthened their warnings, the likelihood of foreign exchange intervention will significantly increase.

If the yen continues to depreciate after the Bank of Japan's monetary policy meeting on Friday, this may trigger intervention.