Headline flashing now openly warning that the BOJ is preparing to intervene:
- JAPAN PREPARES FOR CURRENCY INTERVENTION, NIKKEI SAYS
- COORDINATED INTERVENTION MAY FOLLOW JAPAN ACTION: NIKKEI
We call complete bullshit on this. Never do central banks preanounce when they intervene. Never. This is merely more posturing by the toothless and completely powerless BOJ which now has resorted to spreading rumors in order to get the USDJPY higher. Ref: Philipp Hildebrand who has been crouched in a fetal position for the past 6 months in a continuous PTSD daze.
- NIKKEI REPORT ON INTERVENTION CITES NO SOURCES
Sorry. The knee jerk reaction will hold at most minutes.