Japan Fin Min Noda: Yen moves clearly one-sided

http://www.marketwatch.com/story/newsviewer

I smell some JPY "action"...

 

Aug 24 (Reuters) - Japanese Finance Minister Yoshihiko Noda said on Tuesday recent currency moves are clearly one-sided and that disorderly moves can be harmful to the stability of the economy and the financial system.

Noda, speaking to reporters, declined to comment on the chance of currency intervention. (Reporting by Stanley White; Editing by Michael Watson)

http://www.reuters.com/article/idUSTKX00694520100824

 

I think he should henceforth be referred to as the "Minister in charge of Stating the Bleeding Obvious".

 

A source from a large French bank ( guess which one ) is reporting about wild rumors of BOJ intervention imminent...

 

There was some talk on Tuesday that the Bank of Japan had been ‘checking prices’ in the foreign exchange market — a move that could suggest imminent intervention, or simply act as a sneaky reminder that the central bank is indeed around, and it is watching.

http://ftalphaville.ft.com/blog/2010/08/24/324356/boj-just-checking/

 

Last print 83.72 and the BOJ is still "checking" quotes...LOL !

 

This may be the reason why.

http://www.boj.or.jp/type/stat/boj_stat/ac07/ac100820.htm

(naibu sento)

AKUMA

 

Dear Akuma,

I think I need a translation for this.

Thx

Check out :

http://ftalphaville.ft.com/blog/201...ention-101-why-it-wont-work/?updatedcontent=1

 

I for one am watching for BOJ intervention. If/when this happens, get ready to short JPY. For the time being, however, I will stick with the trend.

 

Maybe these Japanese guys saw the "success" of the hedge fund known as SNB LLC and are having second thoughts.