USD/JPY has dipped back below 134.00 this afternoon after it was reported that officials from Japan's Finance Ministry, the BoJ and Financial Services Agency will meet today at 4pm, to discuss international financial markets. This meeting will take place around 1.5hrs from now.
- USD/JPY has now stabilized between 133.80/90, after touch a low just above 133.70.
- It remains to be seen what comes of the meeting, but clearly the market is a little nervous around intervention risk given the yen's drop to multi decade lows.
- The yen move this afternoon has spilled over into USD weaken elsewhere, with AUD and NZD pushing towards fresh highs for the day, while EUR/USD has firmed to 1.0640.