August 23, 2024 at 06:31AM
Rapid FX moves are undesirable
Important for currencies to move in stable manner, reflecting fundamentals
Intervention was response to speculative move and excessive volatility
I would argue that it was only effective as the BOJ also delivered on their part of the bargain. Otherwise, it would have been a repeat story to previous intervention attempts by Tokyo.
This article was written by Justin Low at www.forexlive.com.
Japan finance minister says FX intervention in July was effective