USD/JPY flows: Escalated Jawboning

Japan’s Finance Minister Katayama says she is “alarmed” by recent FX moves and noting one-sided, rapid shifts in the currency. It is an escalation of verbal intervention as USD/JPY is once again on its way to historical high. The one way traffic is well anticipated with PM Takaichi's fiscal spending plan and worsen this week after another big stimulus package announced.

USD/JPY retreated from 155.37 session high on the warning to trading 0.12% lower at 155.00.