JPY Daily News

Was the BOJ Responsible for this Morning's USD Spike?

The sudden spike in the value of the US dollar during Asian trading hours this morning have raised questions about possible intervention moves by the Bank of Japan (BOJ). However, the pace at which the move was rescinded has many analysts positing that it may not have been the BOJ, but rather a lone hedge fund, or even a glitch not dissimilar from that witnessed a few months prior.

Of course the question of currency intervention ahead of this week's meeting of the US Federal Reserve Board has many concerned that the US and Japan may continue in their currency devaluation war despite commitments not to do so at the latest round of G20 meetings. The Fed's QE move may already be priced in, but countermoves by the BOJ remain elusive and unpredictable. Traders will need to keep a close eye on comments emanating from Japan this week to get a more accurate read on where these two currencies are heading.

Current Time: 05/26 23:56 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
11/01
	01:30	JPY	Average Cash Earnings	y/y	0.4%	0.5%	0.9%
	23:50	JPY	Monetary Policy Meeting Minutes		*	*	*
	23:50	JPY	Monetary Base	y/y	5.8%	5.6%	6.4%