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BOJ Accounts Signal Japan’s Second Yen Intervention in Fed Week

From bnnbloomberg.ca

Japan likely conducted its second currency intervention this week, according to a Bloomberg analysis of central bank accounts, in another sign of its intensified battle to prop up the yen. The BOJ reported Thursday that its current account will probably fall ¥4.36 trillion ($28.1 billion) due to fiscal factors on the next business day of Tuesday. That’s much bigger than a drop of about ¥833 billion forecast on average by money brokers, suggesting that intervention of about ¥3.5 trillion took place. The analysis indicates Japan’s currency authorities made the unusual move of stepping into the market shortly after a ... (full story)

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  • Category: Fundamental Analysis