It's the question on a lot of lips ... just where (in terms of price) will the Bank of Japan intervene?
I asked for guesses, here
As you'd expect, there are some very good observations in the comments there, go and check them out
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And, scanning around elsewhere:
Shusuke Yamada, Chief Japan FX strategist for BoA (I posted a bit from him yesterday)
- At 105 there's a realistic probability of intervention
- Probability then climbs above 50% if around 100 per dollar
Note, though ... Nomura Securities Co.'s Yunosuke Ikeda says:
- As long as Japan belongs to G-7, any intervention will require approval from the U.S.
'Mr. Yen' (ex-MOF Eisuke Sakakibara reckons USD/JPY has to be under 100 to get intervention
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I posted earlier on what its gonna take to get intervention ... watch out for comments laying the groundwork, like this:
- FX market moves one-sided and
- Excessive fx moves have bad impact
'Excessive' is a key word