> Japan did not spend on FX intervention in the four weeks to 27 October

Japan did not spend on FX intervention in the four weeks to 27 October

That is certainly interesting as the Japan finance ministry says that yen intervention amounted to zero during the period

Tuesday, 31/10/2023 | 10:06 GMT-0

In case you missed the headlines from during the month:

USD/JPY smashed lower in sign of intervention (3 October)
Quick move lower in USD/JPY (26 October)

According to the data from Tokyo, these were not events in which they intervened in the market to defend the yen currency. That is certainly interesting and if anything else, this seems to be a green light to allow USD/JPY to ramp higher I would say.