With the yen weakening to levels not seen since last year, and the last time the BOJ intervened to buy yen and sell dollars the risk of intervention is back on. Japan’s top currency official has warned that the government would take action if needed in comments that follow a weakening of the yen to its lowest levels since last November. A Bank of Japan board member has hinted at the need to consider revising the yield curve control program, … Continue reading “When Does the Bank of Japan Intervene in The Yen”
The latest move from the yen comes as no surprise as we wrote about yen shorts building with $JPY short positions are at their highest since 2014. The herd has been caught again, part of it is the U.S. traders obsession with the dollar index rather than the currency itself.