Could Japan stepping away from intervention be due to concerns that a higher local price of oil could eventually become a greater threat to the economy than weaker exports due to a strong currency? One European official has already cited that energy price is the greater threat to growth.
No. Saham Wait, there's more! It is (incorrectly) thought that Japan/China caused the recent 700 point spike in USD/JPY. HA! The BOJ couldn't change the price more than 50 to 60 points even by pouring everything they got at it. The USD rallied on rumors that never came to pass. Japan/China took credit for the USD/JPY spike. There was ONE point where they were literally holding the market at a price - but soon the market (traders) had its (their) way. Saham