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- Q: Is there a risk of Yen intervention? We think so, given past behaviour and policymaker communication, but we probably need to see higher levels first. Policymakers still appear focused on USD/JPY price action," GS notes.
- "Thus, we continue to see a rising risk of intervention as USD/JPY grinds higher, but the consistent tone from policymakers despite the cross rallying towards 135 signals some tolerance for further depreciation," GS adds.
USD/JPY dip[ped yesterday from 134.50. Trying again today?