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Japan's Double Yen Intervention, As Seen Through 10 Charts From Goldman's FX Desk

Tyler Durden's Photo
by Tyler Durden
Authored...

You can't say they didn't warn you. After weeks, actually months, of repeat warnings to the point where nobody took them seriously any more, as the yen kept falling and falling, despite the relentless jawboning (and the BOJ's inability to raise rates despite soaring energy prices) on Thursday afternoon local time, Japan's Finance Minister Katayama and top FX diplomat Mimura took turns at the microphone delivering what Mimura himself called Japan's "final evacuation warning" to markets.

  • KATAYAMA: WE ARE MONITORING FX MARKET WHILE YOU ARE ON HOLIDAY
  • *KATAYAMA: WE ARE NEARING TIMING TO TAKE BOLD ACTION ON FX