GBP/JPY has flattened back into recent lows after a second possible intervention on the Yen’s behalf from the Bank of Japan (BoJ).
BoJ suspected of stepping into FX markets twice in one week. Market estimates suggest BoJ interventions have cost ¥9 trillion. Yen markets set for a quiet end to the week with Japan exchanges on holiday. GBP/JPY has flattened back into recent lows after a second possible intervention on the Yen’s behalf from the Bank of Japan . The pair is back down to the 192.00 handle after tumbling over 4% over two days from a 34-year peak of 200.60.
5 trillion Yen in excess BoJ financing operations expenses on May 2. No official statements are forthcoming from Japanese officials. Pound Sterling traders will be looking ahead to next week’s upcoming Bank of England rate call, slated for Thursday. UK quarterly Gross Domestic Product is also due next Friday, and there is little data of note on the Japanese economic calendar.
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