Patheon with the note.
FX Intervention Begins, as the BoJ Feigns Innocence
The BoJ always struggles to match other central banks for excitement, and had an especially tough act to follow after the Fed’s 75bp hike. In the end, much like a subpar Marvel film, the biggest twist was saved for the end credits. No sooner had Governor Kuroda left the press briefing—having essentially promised business as usual—than the yen rallied suddenly, and sharply, against the dollar.
