Japan's finance minister Suzuki had made comments on the slumping JPY , here:
Please note these two remarks, which are a significant escalation in rhetoric:
- some speculative moves are behind the recent FX moves
- recent FX moves are clearly sharp and one-sided
These words, "speculative" and "one-sided", are indications of Japanese authorities wanting to halt, or at least slow the yen's slide and are steps along the road to actual forex intervention (i.e. the BOJ buying yen in the market to support it).
Check this out:
----
A post like this is not complete though without wariness on whether BOJ intervention will be of any value. Earlier post:
Solo Bank of Japan intervention seems unlikely:
