Sharp USD/JPY move above 107
USD/JPY has been grinding higher in past hours and now its popped sharply through 107. Its run a few stops, that's pretty much the only 'news' on it
In a broader picture the USD has been displaying strength - price updates:
High in USD/JPY was around 107.46
Those familiar with this slice of the 24-hour cycle will know how illiquid it can be ... and is.
5.30pm in NY, 7.30am in Sydney ...
And .... with talk of 'intervention' around the markets as USD/JPY has fallen, there will be speculation that the sharp upmove was perhaps due to this. I've nothing to report whether it is or not as yet ... but it's a reasonable question and in terms of bang for buck spent, its not a bad time to do so.