• Must stop rapid rises in yen
• There are also other steps than yen-selling intervention to stem yen rise
• Yen rises over long term not bad
• Fine to debate tax reform, including sales tax
• To keep promise not to raise sales tax before next general election

Ummm?

USD/JPY and USD/CHF are both slightly higher in very early Tokyo trade.

headline comment via Reuters from Japan’s Asahi News

• Japan intervention may gain understanding if yen rises on factors it can’t control
• Increasing outright govt bond buying not an option for the BOJ

Former BOJ board member Mizuno says Japanese currency intervention may gain some understanding in the global community if it is aimed at curbing yen gains which are out of Tokyo’s control.

Mizuno says Japan needs to get serious about arresting the yen’s strength and should act on its warnings of intervention.

The usual stuff about taking decisive action when necessary.

Based on the amount of talking that there has been over the last few weeks, one would have to think that the time for action has long since arrived.

Retail sales have now risen for 7 months in succession.

USD/JPY still refuses to move in Asia with the market bearish but strong bids belwo 84.50 holding it up. The 16 pip range so far this morning is testament to the lack of momentum.

This is better than the -0.2% forecasts. USD/JPY is trading quietly at 84.60.

• 1
• 2
• 3
• 4
• 5
• ...
• 84
• >