A snippet from the Wall Street Journal on the lower yen in Tokyo trade so far today./ In brief:
yen weakensJapanese authorities’ verbal warnings appear to be losing effectiveness
Citing CBA analysts:
Market reaction to Japanese Finance Minister Kato’s comments on Tuesday was much smaller compared with Friday“If words cease to have the desired impact, it may take action from the Ministry of Finance to get the desired impact on the JPY,” risk of market intervention by Japanese authorities to support the yen at any time
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Other analysts are not warning o yen intervention at any time, eyeing 160 as the trigger level:
ICYMI – Citi base case is for no USD/JPY intervention before 160USD/JPY 160 level – potential BOJ intervention, rate hike
This article was written by Eamonn Sheridan at www.forexlive.com.
