DislikedCould somebody explain to me; why is JP gov doing this trivial interventions? I don't get the point. Are they going to selling yen to keep UJ around 82, until US$ gets weak by itself?
I remember someone on this board was telling that he had seen the same pattern when CHF tried to intervene. I checked the chart, but CHF did more than a couple of massive interventions.
Maybe JP doesn't want to follow the same path CHF went through...Ignored
Yes, SNB did 14 or so interventions; they spent 33% of their GDP and got nothing that stayed. Here's the post/chart courtesy of Fudomyo; pasted below as well.
http://cdn.forexfactory.com/attachme...2&d=1284523256