Dollar/yen breaks through 161.5 yen. Missed the perfect intervention opportunity—can we not fire another live round?
Following the FOMC, the USD/JPY rose sharply. There was a clean sweep movement that grabbed liquidity, making it look like “the most opportune intervention” ever, but
however, the result was an unexpected pass...
If we wait leisurely like this, will it really lead to a resolution?
1. Behind why intervention was not pursued even at 161.5 yen
When looking only at price levels, it seems like a race against time, but the authorities cannot (or will not) move due to the壁 of fundamentals and international relations.