USD/JPY: Levels Close To 105 Would Trigger Japan's Action - Credit Agricole

USD/JPY: Levels Close To 105 Would Trigger Japan's Action - Credit Agricole

In Japan, Finance Minister Aso stressed that a five big figure move over two days is considered one way and that Japan has no intention to devalue the Yen sharply or continuously. If anything he explains what the prerequisite for actual intervention is. It must be noted too, that he outlined that it would be good if USD/JPY settles around 109.00.

This may imply that levels closer to 105.00 would indeed trigger action. Such prospects should still keep JPY buying interest limited from the current levels. If anything it will remain about risk sentiment to drive the currency.