Uncovering the Truth: Japan’s Response to Unusual USD/JPY Volatility
Japan didn’t confirm intervention after unusually USD/JPY volatility Introduction There was some unusual volatility in USD/JPY overnight as it approached the 1998 high at 147.68. The pair was knocked down but there was no sustained selling. Japan’s Ministry of Finance declined to confirm whether that was caused by intervention. Meanwhile, Finance Minister Shunichi Suzuki just…