I noted at the time that the price action was not as clear cut as what we saw from last week. And the BOJ accounts (as seen below) are now reaffirming that, suggesting that the Japan MOF might not have played a key role in driving USD/JPY lower yesterday.
Typically, the circled column should show a net receipt instead, which was the case in calculating the roughly ¥6 trillion spent on intervention on Thursday and Friday last week. And also similarly back in May here.
This article was written by Justin Low at www.forexlive.com.
