Remember this (from yesterday): Japan PM Abe: "Should refrain from arbitrary intervention"
He's probably right given this definition of arbitrary:
- "based on random choice or personal whim, rather than any reason or system"
But... still ... a bit of mongrel from the Japanese authorities right about now might go some way towards stemming the yen's rise ... at least inflict some short-term pain on yen buyers and get 'em thinking twice. But, the Ministry of Finance (its them that tell the BOJ when to intervene) has its hands tied ... global agreements against currency manipulation, local politicians not wanting too weak a yen.
Not a happy chappy
