According to sources, Reuters reports that The Bank of Japan is asking market-participants about the cause of this morning’s sudden 150 pip vertical rip in USDJPY. Hhmmm, we wonder? Given BoJ’s “coincident” intervention in mid-Feb (marking the market bottom), we wonder who this mysterious knife-catcher is?
This happened in Mid-Fed: for the first time since 2011 the BOJ intervened directly in the USDJPY market, moments ago Kuroda’s trading desk once again decided to sell a boatload of Yen, with the key carry pair trading at 111.25 and threatening to take out the 110 support, in the process sending the USDJPY higher by 175 pips in a matter of seconds to just above 113.
And this happened today…
And The BoJ wants to know who did it…
- BANK OF JAPAN ASKING MARKET PLAYERS ABOUT CAUSES OF DOLLAR/YEN MOVES, NOT CHECKING RATES – SOURCE
Today’s ramp began at 0810ET, the Mid-Feb ramp began at 0820ET…
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