During the Asian financial crisis a decade ago, PKO became a prominently used acronym. It stands for “price keeping operations” and was often employed by governments like Japan and Korea to keep stock and currency markets from falling off the map. PKO was rumored overnight as both the Nikkei and Kopsi reversed early losses to close higher on the day.
We are just heraring talk now that the BIS is on the bid in USD/JPY, helping keep the rebound alive.