Japanese Finance Minister Just Held A Hasty Press Conference On Violent Yen Appreciation

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Photo: commons.wikimedia.org

Interesting incident in Japan this morning that seems to have given markets a bit of a lift.Japanese Finance Minister Yoshihiko Noda held an unplanned press conference to say he was watching the meteoric rise of the yen, which threatens the country’s exporters.

This was classic jawboning, as he didn’t actually say he’d direct the BoJ to intervene.

But the message was clear. Japan is getting closer and closer to making its currency move.

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