Technical Analysis

Japan finance minister Suzuki: We will not say when we will intervene but ready to do so

  • Ready to act if there is speculative action in FX market
  • Will not say when we will step in as that will be revealing our tactics
  • Weak yen has both positive and negative aspects

These remarks are nothing new but they feel like a bit of a step down compared to the points of inflation since Friday. Meanwhile, Kuroda is saying that the government and BOJ policies are complementary and not contradictory. I mean, we all know who wears the pants in Japan so we can only wait and see if there is any interest from government officials to poke and prod at a potential policy pivot.

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