Forex

USD/JPY nears 148.50 as the pressure grows on Japan to act. 8 straight days of gains


USD/JPY is up 126 pips in another day of gains and another 32 year high.

I wouldn’t sleep well on the weekend knowing the MOF or BOJ could come in with the hammer at the Tokyo open.

Earlier today, BOJ Governor Kuroda said that hiking rates now would be the wrong thing to do. Some did note that he didn’t address yield curve control, which is a hint that may be the lever he pulls.

In regards to yesterday’s potential intervention, an official said “there will be cases where we will disclose, or not disclose, whether we intervened.”

However the Finance Minister’s comments today were fairly weak on the yen.



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