There was some talk on Tuesday that the Bank of Japan had been ‘checking prices’ in the foreign exchange market — a move that could suggest imminent intervention, or simply act as a sneaky reminder that the central bank is indeed around, and it is watching.
Either way though, the yen continued to soar to fresh highs against the dollar, hitting its strongest level since June 1995:
Related links:
How to say ‘appropriate action’ in Japanese – FT Alphaville
BoJ governor on the yen – Money Supply
Tokyo’s FX traders keep calm and carry on – FT Alphaville