G10 FX Weekly: MoF Makes Selling USD/JPY Rallies Compelling
Richard Jones
Summary USD/JPY briefly printed above 160 on 29 April, a public holiday in Japan, before quickly falling back below 155. Money market data suggested the Japanese Ministry of Finance (MoF) bought about 5.5tn yen that day. A second bout of intervention, following the Fed policy update on Wednesday, saw the MoF buy 3.5tn yen, leading […]