I nominate the BOJ…
They should have come in Friday within hours of the earthquake and sent the market a clear message that speculation amid a natural disaster would not be tolerated. The could have locked USD/JPY in a tight range well above trendline support at 81.75 and kept all-time lows out of play.
Instead, the did nothing other than add more JPY to a saturated market. USD/JPY now has all time lows in easy striking distance. Basically, we are one headline away. A shameful performance.
