It was a big Tuesday for USD/JPY during US time:
USD/JPY smashed lower in sign of intervention
Japan senior MOF official asked about intervention: No comment
No comment? LOL:
The spread between US and Japanese yields widened even further during the session on Tuesday. The huge favourable spread for the USD has not changed at all. Dip buyers will be about today.
Intervention in USD/JPY is up against this huge disparity and will have to be repeated if prolonged impact is desired.
