Via National Australia Bank on the yen.
Analysts at the bank say that Bank of Japan intervention to buy yen is likely if USD/JPY trades into the 145-150 band.
They note that current policy from the BOJ is not supportive of long-term yen strength. Rates higher in the US than in Japan a key point.
NAB’s forecasts are for USD/JPY at 133 at the end of Q3 this year, and 125 by the end of Q4.
European Central Bank President Lagarde and Bank of Japan Governor Ueda … ps both are speaking later today: