USD/JPY intervention hints - and here's a guide to all those acronyms

17 June 2016, 07:31
Sherif Hasan
0
14

USD/JPY and yen crosses are all a little higher in recent minutesw

On the back of:
Japan finance minister Aso
  • Very concerned about one-sided, rapid and speculative moves seen in FX mkt
  • Plans to hold meeting of FSA, MoF, BOJ officials to discuss financial mkts on Friday
He is such a shameless tease! Yep, hinting at intervention with these sorts of comments, lets see if there is any action to back 'em up.

The meeting will be at 9.50am Tokyo time (0050GMT)
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Meanwhile, who are are all these acronyms?
  • FSA is Financial Services Authority, the agency that oversees banking, securities and exchange, and insurance
  • MOF is the Misery (OK then, Ministry) of Finance
  • BOJ you know (and in case you been living in a cave (welcome out, BTW) it's the Bank of Japan)
Any intervention instructions will come from the MoF
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