There were some decent shoves lower on Friday in USD/JPY but it came after the US PPI report. It wasn’t immediate but it is something worth noting, with the BOJ data suggesting the intervention amount to be ¥2.14 trillion. That is less than what Japan offered on Thursday with the US CPI report as seen here. In any case, this should put some added emphasis on the US retail sales data later as the BOJ may choose to act again then.
This article was written by Justin Low at www.forexlive.com.
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