Japan finance minister says will not pre-announce any intervention in FX market

• If Tokyo were to intervene, it will do so swiftly and without pause
• Usually will not confirm if it had intervened, even after doing so
• No comment on BOJ rate check
• Will not rule out any options (when asked about chance of FX intervention)
• Government watching FX moves with high sense of urgency
• If yen continues such moves, we will take necessary action

They have certainly stepped up the offensive in terms of jawboning the market, with officials coming out today in full force pretty much. That said, the rhetoric is getting a bit tiresome rather quickly considering the frequency and that might see markets shrug off the threats after a while. In my view, this is the limit to their verbal intervention and that seems to be around the 145.00 mark for USD/JPY USD/JPY The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting Read this Term.