Yen reverses earlier decline and rebounds strongly, after a top currency diplomat confirmed that the government have intervened in the foreign exchange market for the first time since 1998. Masato Kanda , vice finance minister for international affairs, told reporters, “we have taken decisive action” on in the markets.
USD/JPY is hammed down after jumping to 145.89 earlier today, on hawkish Fed. It now seems that Japan could become more active when USD/JPY get close to 1998 high at 147.68.
