The wait is finally over. The Japanese Finance Minister Azumi stated that the MoF intervened to sell JPY. The surprise move pushed USDJPY from 75.34 to 79.53 while EURJPY went from 106.55 to 111.60. Given the increased verbal intervention last week and declining USDJPY we had suspected that Japanese officials were prepping to step-in. However, the stability in the JPY–crosses and lack of erosion... ...More...


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