- Govt must take steps to counter yen rise
- Market sets fx levels
- Hard to guide G7 discussion on currencies in way Japan wants
- Current fx situation stems from countries’ efforts to restore their economies
USD/JPY down at 82.60 from early 82.95 as BOJ stays away. Recently there has been talk of 82.50 barrier option interest, so might see protection of said level kick in. Not that barrier protection stops a strong trend as we know all too well. Slow, stall yes, not stop.
