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JPY Surges Higher Following USD/JPY Break of Y150.00, Raising Speculation of Intervention

JPY
  • USD/JPY falls sharply, with spot dropping close to 275 pips inside 60 seconds, raising speculation that the BoJ may have intervened on the show above Y150.00.
  • JPY futures volumes surge sharply on the move, with close to 20,000 contracts changing hands inside 2 minutes, making for comfortably the best activity of the session.
  • Market focus shifts to any official confirmation from the Japanese authorities, who may confirm official intervention post-event - but not specific commentary from Japanese authorities as yet.

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