More verbal waffle JPY intervention from Japan.
Suzuki declined to comment when asked about the prospects of a ‘rate check’.
What’s a ‘rate check’? Glad you asked, here you go:
- This is when the Bank of Japan contacts FX dealers at banks and asks for a dealing level in USD/JPY. Dealers quote the Bank a two-way price, a bid, and an offer. This is a bit of a charade as everyone knows what’s going on, the BOJ is intervening by making a threat of intervention.
Suzuki and his US counterpart
This article was written by Eamonn Sheridan at www.forexlive.com. Source