12 Feb 2016
BoJ intervention on its way? - FXStreet
Valeria Bednarik, chief analyst at FXStreet explained that the USD/JPY fell over 250 pips this Thursday.
Key Quotes:
"Down to 110.97 accumulating over 1,000 pips to the downside in less than two weeks, after peaking at 121.68 on BOJ's decision to cut rates into negative territory in their late January meeting. But during the European session, the pair jumped up to 113.17, on unconfirmed rumors that the Bank of Japan intervened in the FX markets to halt the appreciation of Yen.
Besides that, speculation of some actual intervention during the upcoming session have increased as the day went by, and investors are actually expecting a bit more than the verbal intervention seen these last few days."
Key Quotes:
"Down to 110.97 accumulating over 1,000 pips to the downside in less than two weeks, after peaking at 121.68 on BOJ's decision to cut rates into negative territory in their late January meeting. But during the European session, the pair jumped up to 113.17, on unconfirmed rumors that the Bank of Japan intervened in the FX markets to halt the appreciation of Yen.
Besides that, speculation of some actual intervention during the upcoming session have increased as the day went by, and investors are actually expecting a bit more than the verbal intervention seen these last few days."