Goldman Sachs says that USD/JPY trading volume surged to almost nine times its typical level during Monday’s suspected intervention by the Ministry of Finance.
I posted yesterday that we’ll only get actual MoF numbers towards the end of May:
GS says prior intervention saw lower volumes transacted in USD/JPY.
If you check out the bounce in USD/JPY from its low on Monday this is perhaps because of all the BTD folks soaking it up! The yen weakness ain’t over!
This article was written by Eamonn Sheridan at www.forexlive.com. Source