The MOF handles intervention but clues often come from the Bank of Japan and Kuroda is out with a warning: • If currency moves are so fast and unidirectional, they're probably cuased by speculation and that would be bad for the economy • Yen deprecation may have good impact on macreconomy as a whole, but there are some sectors which are suffering from a weak yen • We have to be carefully watching and analyzing the impact of currency movements on the economy It looks like we're going to have a game of chicken in USD/JPY until closer to 150.00. Last up 95 pips to 146.82 and accelerating after PPI and Kuroda. (full story)