Yen options suggest Japan may tolerate depreciation to 165 before intervening
According to Golden Ten Data on July 16, options market data shows that Japanese authorities may still tolerate further depreciation of the yen before intervening to support it. Traders are currently willing to price in USD/JPY rising to 165, which suggests there is about 1.6% more room for the yen to weaken from current levels, while the current exchange rate is already near its weakest level in almost 40 years.
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