He makes mention that “if speculators cause excessive moves in FX market, we have no choice but to respond appropriately”.
They stepped into the market on Thursday and Friday last week, and that seems to have finally broken the resolve of dip buyers. USD/JPY is markedly lower again today, down by 1% to 156.75 currently. But the drop today could also be attributed to a technical breakdown as seen here. That and of course the more negative risk mood in general.
This article was written by Justin Low at www.forexlive.com.
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