Eisuke Sakakibara, the artist formerly known in currency markets as “Mr. Yen”, says that the BOJ may intervene in March should USD/JPY fall to the 80/85 level to the dollar. Sakakibara was an influential MOF official in the 1990s.
The FT goes through the sources of yen strength amid a slow Japanese economy and “buries the lede”, as they say in journalism circles. The primary reason for yen strength is Japanese investors losing their nerve amid global market instability, now that the carry trade has been entirely unwound.
