Asian interventions reveal strategy splits
MARKET NEWS
TOKYO -- The recent shift in sentiment towards the US dollar has prompted a round of physical and verbal intervention across Asia, but the moves highlighted differing strategies among central banks.
Analysts told FX Week that the region operates in a ‘three-tier’ system, with the Japanese Ministry of Finance (which uses the Bank of Japan as its agent in the FX markets) taking an aggressive stance and attempting to change market direction. In the second tier, banks will use verbal intervention
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