The run on $USDJPY continues, now at 161.67. BoJ rhetoric seems to be doing little to stem the tide. At what point do we see intervention, or is this the new normal? It's fascinating to watch in real-time. Positioned long, but definitely keeping an eye on any sudden shifts.
Long here too, but the pace is making me nervous. Hard to know when the rug pull might happen.
Is 'new normal' even a thing in forex? Every time we think we've found a floor or ceiling, it gets broken. Staying nimble.
Are you factoring in the potential for coordinated intervention? That's always the big unknown.
It's not just BoJ rhetoric, the interest rate differential is a massive driver. That's not changing overnight.
Fascinating is one word for it, terrifying is another for those on the wrong side. Good luck with your long.
Intervention has to be coming soon, right? The prior levels were met with action, this seems even more extreme.
I think they're waiting for a more definitive signal from the Fed. Until then, they might just absorb the weakness.
I agree, it's wild to see the BoJ's words have such little impact. Feels like they're just letting it ride for now.