USD/JPY flows: Won't hike when market unstable

The latest volatility in the Japanese equity space and JPY seems to have brought out the ultimate verbal intervention from BoJ. Uchida says won't raise rates if market unstable. While it does not mean a shift in policy stance, it is good enough to reassure market participants.

USD/JPY shot higher to 147.48 before retracing partial gains to trade at 146.47, up 1.52% for the day.