Yen Suddenly Spikes Sparking Intervention Chatter Having broken hand held above 160/USD, this morning (as the G20 meeting comes to an end), the yen is suddenly spiking higher, prompting desk chatter of another intervention... “The market remains on high intervention alert,” said Alex Cohen, a foreign-exchange strategist at Bank of America. There was no obvious news or macro catalyst for such a move, and for now, there is no follow through but it appears 160 is the new line in the sand for the Bessent/BoJ plunge protectors. Some traders suggested it was a simple stop-hunt (which could still be instigated by 'authorities'). “We hear rumors that this is intervention, but I am skeptical based on the size of the...
Read the full article at the source.
Comments (0)
No comments yet. Be the first to comment!