Sumitomo Mitsui FX chief strategist Hirofumi Suzuki said the Fed rate decision
and remarks at Fed Chair Kevin Warsh’s press conference could push USD/JPY to
164. If USD/JPY hits that level, and given Japanese financial authorities’
Stepped-up warnings, the likelihood of FX intervention would rise materially.
Suzuki flagged that continued yen weakness after the Bank of Japan’s policy
meeting concludes on Friday could provide a trigger for intervention.
