USD/JPY crosses 127.00 | Forexlive

Yesterday we had the last verbal intervention from the Bank of Japan:

As for the comments, these were very tasteless and had only a fleeting impact. Indeed, here we are on the next big higher number.

As I pointed out yesterday (and time and time again over the past weeks and months), verbal statements from the BOJ* Ministry of Finance (and other Japanese authorities) are aimed at slowing the decline of the yen, and not to reverse it. The policy divergence between the Fed and the BOJ is a key driver of this rise and there are no signs of a change anytime soon.


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