BoJ: to intervene or not to intervene?
MARKET VOICE
The Bank of Japan faces a struggle to keep the yen below 120 as seasonal repatriation increases demand for the currency. Ken Agostino at Gain Capital weighs up the Bank's options
As we approach the fiscal half-year end in September, it's not uncommon to see a demand for yen (repatriation). However, last week's comments by officials at the Bank of Japan (BoJ) about intervention in support of the dollar against the yen, coupled with market buzz that the bank was checking rates to hold the yen below
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