Japan Gives The Green Light To Dollar/Yen Traders

Yen Dollar

Japanese finance minister Hirohisa Fujii has made it clear that any drastic strength in the Yen will be dealt with.

WSJ: “I for one do not believe that authorities should intervene in foreign-exchange markets in an excessive way,” he said in an interview. “However, if forex market movements are outrageously reckless, or acting without any order, then I think some kind of measures are needed.”

Sure he won’t give a specific Yen/Dollar level Japan would step-in to defend, yet to the market his words are clear.

Yen carry-traders, Japan’s got your back.

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