A Mitsubishi UFJ Financial Group report said the Japanese yen has struggled to stage a meaningful rebound even after energy prices fell following a temporary peace agreement between the United States and Iran.
According to Jin10, Lee Hardman of Mitsubishi UFJ said bearish bets against the yen continued to build ahead of the Bank of Japan’s policy decision due on Tuesday.
Hardman said a 25-basis-point rate increase was already fully priced in, making it unlikely on its own to reverse the yen’s weakness, which he said has encouraged further growth in short yen positions.
He added that if energy prices keep falling and bets on additional U.S. rate hikes ease, any further intervention by Japanese authorities to support the yen would likely prove more effective.
Mitsubishi UFJ: Yen Struggles to Rebound Despite Lower Energy Prices
2026-06-15 09:07:09
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