Gate News message, April 27 — Volkmar Baur, an analyst at Commerzbank, warned that if the Bank of Japan holds interest rates steady on Tuesday (April 29) and maintains a cautious stance on future rate hikes, the yen could weaken significantly. The market is anticipating clear signals from the Bank of Japan indicating a possible rate hike in June, contingent on some easing of tensions in the Iran conflict. Without such signals, Japan’s Ministry of Finance warnings about intervening to support the yen “will have little impact,” Baur said.
Should the central bank fail to provide the expected guidance, USD/JPY could rise above the 160 level, according to the analyst’s assessment.
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