July 20 (Bloomberg) -- The yen fell for a second day against the dollar on speculation the Bank of Japan will intervene to weaken the currency after it climbed to a seven- month high last week. The yen dropped versus all 16 of its major counterparts as importers sold the currency and technical indicators signalled the recent rally was overdone. The euro gained for a second day on optimism stress-test results from European banks this week will show the regionâs debt crisis is easing. The Australian dollar snapped a three-day losing streak as gains in Asian shares spurred demand for higher-yielding assets. âThe yenâs falling as the risk background is more positive, along with talk of BoJ intervention,â said Adam Cole, head of global currency strategy at Royal Bank of Canada in London. âThe yenâs move against the Aussie dollar, in particular, indicates thereâs a better bid for risk. Sentiment for the euro is improving ahead of the European bank stress tests.â http://noir.bloomberg.com/apps/news?pid=20602081&sid=axeZdYGls2x4 You´re looking for action ? AUD/JPY...
I've been reading these headlines about yen intervention for 2 days, but I'm looking at $/Y and AUD/Yen and they're pretty much in the same spots they were on Sunday night - nothing to see here, move along.