USDJPY appears to be near thresholds of prior intervention
USDJPY has been the story of the day. No imminent tightening hints from BoJ 'hawk' Tamura left USDJPY drifting higher, the pair nudged to highest levels since 1990.
The move drove a response from Finance Minister Suzuki who said they will take "bold action" if needed, language we haven't seensince from him 2022.
This is the second escalation this week after Kanda said on Monday they were prepared to take action .
Later, a third sign of escalation as BoJ, FSA and MoF held a joint meeting to discuss financial markets. The post-meetingpresser reveled little new details.
Spot desk sees likelihood of action rising significantly and if markets can muster a swift move towards 153.00-155.00, then there is a goodchance take action
The move drove a response from Finance Minister Suzuki who said they will take "bold action" if needed, language we haven't seensince from him 2022.
This is the second escalation this week after Kanda said on Monday they were prepared to take action .
Later, a third sign of escalation as BoJ, FSA and MoF held a joint meeting to discuss financial markets. The post-meetingpresser reveled little new details.
Spot desk sees likelihood of action rising significantly and if markets can muster a swift move towards 153.00-155.00, then there is a goodchance take action
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