Global FX: Yen intervention, re-assessing USD bearish view, central bank rundown

About this episode

The episode discusses recent movements in the JPY, evolving views on the USD, and the impact of central bank meetings on FX outlooks.

In this week’s At Any Rate Podcast, our Global FX Strategists discuss 1) this week’s major moves in JPY, 2) how the USD view is evolving, and 3) recent and upcoming central bank meetings impact FX outlooks. Speakers: Meera Chandan Ben Jarman Junya Tanase James Nelligan Patrick Locke This podcast was recorded on 01 May 2026. This communication is provided for information purposes only. Institutional clients can view the related reports at https://www.jpmm.com/research/content/GPS-5283912-0, https://www.jpmm.com/research/content/GPS-5287512-0, for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.

People in this episode

Guests: Meera Chandan, Ben Jarman, Junya Tanase, James Nelligan, Patrick Locke

Topics covered

• Yen intervention
• USD bearish view
• central bank meetings
• FX outlook
• currency strategy

Keywords

• FX strategy
• JPY
• USD
• central banks
• currency intervention
• market outlook

Mentioned in this episode

Organizations: J.P. Morgan Global Research

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