Japanese Yen Unmoved by Verbal Intervention – Scotiabank
Scotiabank analysts note USD/JPY remains largely unchanged despite strong verbal intervention from Japan's Finance Minister Katayama, warning of decisive action. Markets remain unimpressed by repeated rhetoric.
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Scotiabank's Shaun Osborne and Eric Theoret report that USD/JPY is little changed despite aggressive verbal intervention from Japanese Finance Minister Katayama, who reiterated warnings of decisive action at any time.
Markets have grown indifferent to such statements, as repeated rhetoric has historically led to limited actual impact on the yen. The pair continues to trade near current levels without a significant reaction.
Source: FXStreet Forex News