Published: 2026-07-02T04:11:23.000Z
USD/JPY flows: Silent Intervention Soon?
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Reuter cited sources that Japanese officials are moving away from telegraphing intervention risk and toward unsignalled action designed to squeeze speculative yen short positions
As USD/JPY hover around historic high, it is somewhat a surprise we do not hear more from Japanese officials on FX. Sources have told Reuters that Japanese officials are moving away from telegraphing intervention risk and toward unsignalled action designed to squeeze speculative yen short positions, seems to justify the latest silence. Element of surprise has always been critical but the amount of resources needed to execute a successful intervention seems to be heavy for the BoJ, even with their great war chest.
USD/JPY is trading 0.11% lower at 162.39.