Yen has surged after verbal intervention warnings. Early moves fake out.

The yen dropped early:

• Yen weaker early trade. Japan markets brace for renewed Takaichi trade after landslide win
• Weak yen update: Japan election landslide Takaichi super-majority, revives yen pressure

But intervention comments from the finance minister, and then her deputy, has seen it rocket higher (USD/JPY lower):

• Japan steps up yen intervention warnings as officials signal readiness

Satsuki Katayama, Japan's Minister of Finance