earnfreecryptoplayinggames| Saxo: Yen intervention will be futile without the Bank of Japan's hawkish signal

Charu Chanana, strategist at Saxo Capital Markets, saidearnfreecryptoplayinggamesThe Bank of Japan has once again proved that it can be more dovish than the most dovish expectations on Wall Street.

The market may strengthen its arbitrage belief and continue to test the limit of yen depreciation.

The USD/JPY may accelerate towards the 158-160 range, and the intervention threshold of "up and down 10 yen in one month" proposed by Mr. Kanda gives further upside.

The U.S. personal consumption expenditure (PCE) inflation measure is once again in the radar range, and we are back in waiting for intervention to stop the yen from plunging.

Without coordination and support from hawkish policy signals, any intervention will be futile.