The dollar continues higher vs. the yen in wake of intervention by the MOF and a bump in the...

|By:, SA News Editor

The dollar continues higher vs. the yen in wake of intervention by the MOF and a bump in the BOJ's QE program, now +3.6% at ¥79.78. Price action in the yen is similar to that following the March intervention which drove the currency lower for about 3 weeks. The half-life of post-intervention moves is always shrinking - give it 2 weeks this time.