Bloomberg with the headline, a comment from a Japanese 'government panelist' saying it may intervene before USD/JPY reaaches 160.
- “Japan has such an enormous amount of foreign reserves,” Takuji Aida, chief economist at Credit Agricole, said in an interview with Bloomberg on Thursday, referring to funds that would likely be used if the government stepped into the currency market. “Under Prime Minister Sanae Takaichi’s government, it becomes easier to take the view that we should actually use them.”
- Aida said authorities could step into the market before the yen reaches (160), if currency moves “become sharp.”
I'm giving him a C, mainly for making an effort.
USD/JPY is around 157.50, so there's another two and a half big figures before 160. I'm sure that's not what this 'panelist' thought traders would be thinking.
