Nomura bearish USD/JPY, expects potential BOJ policy shifts, verbal interventions ...Middle East

This summary is via the folks at eFX. For bank trade ideas, check out eFX Plus. ***Nomura discusses the dynamics influencing USD/JPY, focusing on recent remarks by BOJ Deputy Governor Uchida which did not significantly shift expectations for a March NIRP (Negative Interest Rate Policy) removal. Despite a bullish trend for USD/JPY, bolstered by strong US economic data, Nomura expects the Ministry of Finance (MOF) to engage in verbal interventions to curb JPY depreciation and does not rule out an earlier than anticipated NIRP removal by the BOJ in March. The market's current stance on a potential May Fed rate cut offers limited upside for US yields and the USD. Additionally, a slowdown in

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