Don’t want to comment on forex levels, interventionBut is extremely concerned about speculative movesThe stance by the government has always been to take appropriate action on forex matters
A bit of a verbal warning shot there as Tokyo officials continue to be alarmed by USD/JPY lingering above 159.00 but still not yet wanting to take a run at the 160.00 level. But even so, we’ve already seen the rebound in the currency pair over the last few weeks. And that is one that almost negates the entirety of Japan’s intervention efforts since late April.
We are expected to see some intervention data come out later in the day. But at this point, it should just confirm what we already know and not offer too much else.
From earlier this week:
USD/JPY continues to nudge higher in testing Japan’s intervention limitsUSD/JPY faces up against risk of another round of FX intervention – Credit Agricole
This article was written by Justin Low at investinglive.com.