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① Iran 1. Iran says repairs to damaged energy facilities are progressing faster than expected. 2. Explosions were heard on Qeshm Island in southern Iran. ② United States 1. US media reports a US pilot was shot down twice: once by friendly fire and once by an Iranian attack. 2. The US military claims to have attacked an Iranian oil tanker, rendering it unable to navigate. 3. US Central Command: Since imposing a blockade on all maritime traffic to and from Iranian ports on April 13, the US military has crippled six merchant ships and forced another 122 to change course. ③ Israel 1. Israeli Defense Minister Katz: If northern Israel is attacked again, strikes will be launched against the suburbs of Beirut, Lebanon. The US has "approved" the policy of striking the Beirut suburbs. 2. Israel clarifies reports of a phone call between Trump and Netanyahu. Trump did not comment on the imprisonment issue, nor did he claim that Netanyahu is hated globally. 3. Israeli Foreign Ministry: Despite yesterdays renewed ceasefire announcement, Hezbollah continues to violate the ceasefire agreement. Just last night, Hezbollah launched multiple missile and drone attacks from Lebanon into Israeli communities. 4. The Israeli Prime Minister vowed the Iranian regime would fall. 5. Netanyahu: Iran will not be allowed to threaten Israels survival. ④ Strait of Hormuz 1. Iranian media: Applications for passage permits to the Strait of Hormuz are now open. ⑤ Ceasefire negotiations 1. According to Irans Meh News Agency: Sources say Irans final text is still under discussion in Tehran and has not yet been responded to by the US. 2. Iranian media: Information exchange between Iran and the US has been interrupted for several days. 3. According to Israels i24News: Israeli and Lebanese officials are holding their fourth round of talks in Washington, D.C. 4. Rubio: The US and Iran are still talking, and it is uncertain when an agreement will be reached. 5. According to AFP: Hezbollah in Lebanon will not accept a "partial ceasefire" with Israel. 6. Trump demands a stronger commitment from Iran on the nuclear issue. 7. Trump: "The US and Iran stopped talking a few days ago" is fake news; dialogue between the two sides has been ongoing. ⑥ Other situations: 1. Bahrains Ministry of the Interior: Due to the current security tensions, citizens are prohibited from traveling to Iran and Iraq. 2. The UAE plans to build an oil product pipeline that bypasses the Strait of Hormuz.Canadian Minister for Canada-US Trade, LeBlanc: Discussed reductions in tariffs for high-value industries.Canadian Minister for Trade with the United States, Robert LeBlanc, has raised concerns about the U.S. tariffs on automobiles, steel, aluminum, and softwood.According to US financial media Semafor: Sources revealed that Anthropic has refused to disclose financial information to lenders who are considering purchasing some of its debt.On June 3, local time, the U.S. Central Command stated that on June 2, local time, the U.S. military took action against an oil tanker in the Arabian Gulf, rendering it unable to navigate. The U.S. Central Command stated that the Botswana-flagged oil tanker "Lexie" was en route to Kharg Island, Iran. The U.S. stated that the ship repeatedly ignored U.S. warnings and instructions within 24 hours and failed to comply with relevant blockade measures. Subsequently, a U.S. military aircraft fired a Hellfire missile at the ships engine room, causing the tanker to lose power and be unable to continue its journey to Iran. The U.S. Central Command stated that since the implementation of the blockade measures targeting maritime traffic to and from Iranian ports on April 13, the U.S. military has disabled six commercial vessels and diverted 122 ships. The U.S.-Iran ceasefire is currently ongoing.

Rabobank forecasts that USD/JPY will hit 135 before readjusting to the 132-130 region later in the year

Daniel Rogers

Jun 13, 2022 15:34

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Inflation rates in the United States exceeded all forecasts. Rabobank economists anticipate that the USD/JPY pair will rise to 135 in the near future before falling to the area of 132-30 later in 2022.

USD/JPY is largely dependent on the forecast for US rates

The strength of the US inflation report for May raises the prospect for further USD/JPY rises over the next one to three months to 135. This presupposes that the Bank of Japan will retain its present loose monetary policy at its June meeting, which looks quite probable."

 

"We continue to be skeptical about the prospect of genuine FX intervention, since this would directly contradict the BoJ's monetary policy." It would also violate the commitment Japan has maintained for years as a member of the G7 to let the market determine currency rates."

 

We anticipate that lower US rates will let USD/JPY to return to the range between 132 and 130 later in the year.