The USD/JPY range hasn't been much today, but the direction has been up.
Above 149.72 and to its highest in 11 mtnhs.
Officials from Japan's finance ministry, and the wider government, along with the Bank of Japan have been active in what is sometimes referred to as an 'open mouth policy' - i.e. trying to talk some strength back onto the yen. When to the start yelling at us today?
They have been ignored, we are not even close to this yet:
- JPY alert: The clear signals to watch for imminent Bank of Japan FX yen intervention
- The 4 phrases from Japanese officials to listen for signalling imminent yen intervention
Bank of Japan Governor Ueda
