Free Trial

Phrasing on Currency Steps Up, But Intervention Language Unchanged

JPY

Recall that Kanda quoted in these headlines is the official appointed as the 'FX Tsar' last year and would be responsible for any FX intervention if it was to take place.

Just jawboning for now "will take appropriate action if needed" etc - but looks like a modest step-up in language/urgency. The phrasing on intervention looks broadly inline with the communication on currency back in late April. In April, the language used was:

  • Recent FX moves warrant extreme concern
  • Will respond appropriately on FX if needed

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.