The Yen Just Took A Huge Leg Up, As Entire Intervention Is Almost Totally Erased

It’s gonna be a long night at the BoJ.

The entire yen intervention is just about erased, as the hot-hot currency just made a big spike against the dollar.

Here’s dollar-yen over the last several hours.

chart

And here’s a longer look so you can see how much of the intervention is gone.

chart

But wait, we thought Japan was a demographic timebomb on the verge of a debt crisis!

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