Reuters: Euro zone and Japan have not discussed intervention

Reuters quotes unnamed sources as saying officials in the euro zone and Japan have not discussed Euro zone participation in intervention to weaken the JPY.

The source offered these wise words “Do not pee into the wind, only with it.”

Profound.

Few expect Japan to garner much support from the G7 regarding intervention but they don’t expect any protest from other members, either.

I would not be at all surprised if intervention were to come that the Fed, ECB and BOE will intervene in the markets on the BOJ’s behalf, but almost certainly not for their own accounts.