USD/JPY rises … surges … above 146.00 | Forexlive
I said earlier that US Treasury Secretary Yellen had given the green light for further rises in USD/JPY:
In a nutshell, Yellen dismissed globally coordinated FX intervention, saying that the market determined the value of the dollar.
And, here we are:
USD/JPY has hit its highest since August of 1998.
You can expect some verbal intervention out of Japan today. USD/JPY is well above where it was when there was actual yen-buying intervention from the Bank of Japan last month.
Y’all know what to watch out for to signal imminent yen-buying intervention, right?