Is This Yentervention?
USDJPY 160, then 155
•Friday pre-BOJ: USDJPY in 155-handle
•Friday right before NY close: USDJPY 158
•Monday Tokyo AM: USDJPY breaks 160
•Monday Tokyo PM: USDJPY slammed back down to 155-handle
Ministry of Finance’s Kanda - “no comment” (nice to see he’s at work during Japan holiday - seriously if I were him, I would very publicly go on vacation out of office to show confidence in JPY market strength).
I believe this is indeed official state yentervention out of Ministry of Finance.
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