Masato Kanda is vice-minister for international affairs at Japan’s Ministry of Finance. He is the official who will instruct the BOJ to intervene, when he judges it necessary, and is often referred to as Japan’s ‘top currency diplomat’.
He’s being all coy now:
- nothing to say about whether Japan intervened in the FX market
Meanwhile, USD/JPY is bouncing from the earlier lows:
Earlier posts on the intervention (don’t let Kanda fool you):
- USD/JPY slammed lower
- USDJPY falls below 100 hour MA and runs lower.
- USD/JPY is cratering, drops under 155.00 in super-thin intervention trade
- Those wide spreads you are seeing in yen crosses are a feature, not a bug
This article was written by Eamonn Sheridan at www.forexlive.com. Source