USD/JPY update – lower (in a small range) after Suzuki’s verbal intervention

Keywords used by Suzuki included:

• rapid
  FX moves
• speculative moves
• won’t rule out any steps to
  respond to disorderly FX

These are of a more stringent nature than the ‘watching closely’ sort of mumbling we usually get. These indicate we are moving closer to ‘rate checks’ and then actual intervention.

USD/yen update (looks dramatic but check the scale):