The JPY continues to trade in a strong manner, but did give some of its gains back to the USD later on Tuesday. Nervous bourses throughout Asia have created a rather palpable run to the perceived safe haven of the JPY and it remains strong. There has been ‘talk’ again that the Japanese government is eyeing the currency and considering a possible intervention. However, taking into account the lack of a track record by the Japanese government to battle what has been a strong JPY for an extended amount of time, suggestions of an intervention must be viewed skeptically until ‘real’ facts make themselves known.
Written by bforex.com
