Traders note talk that China is selling JPY on the crosses… They seem to be JPY sellers each time we dip into the 80.50/70 area….
Perhaps the BOJ has outsourced their intervention to someone who is good at it…
It goes along with the talk of 80.00/85.00 DNTs being held by China.
USD/JPY has bounced to 81.00.
UPDATE: Japanese banks have also been solid buyers of USD/JPY in recent trade. US equities are off lows, now down 1.9%. Treasuries are down 0.09% in yield, off their lowest levels of around down 0.13% earlier in the day.
