USD/JPY (not quite) round trip after Kanda’s threatening (intervention) comments

Japan’s Finance Ministry’s Vice Finance Minister for International Affairs Kanda spoke earlier. He is the official who will instruct the BOJ to intervene, when he judges it necessary. Often referred to as Japan’s ‘top currency diplomat’.

Link if here:

• Japan Kanda says closely watching FX moves with high sense of urgency

I said in that post above that his comments were more forceful than what we have been hearing last week.

As a guide to what ‘more forceful means check these out from the last time USD/JPY was up intervention territory:

• Here’s what to watch for to warn of imminent Bank of Japan (BOJ) yen intervention

• The 4 things to watch prior to Bank of Japan FX yen intervention

Update USD/JPY, it dropped on Kanda’s remarks and has recovered a little. Its not quite the ’round trip referred to in the headline to this post and I suspect a few offers might well creep back in circa 151.30 and just over:

This article was written by Eamonn Sheridan at www.forexlive.com.