Bank of Japan intervention alerts should be switched on again. If anything, they should be turned on even louder than before. For a few weeks there, the need for intervention subsided. The yen had fallen back, much to the relief of Japanese authorities as the global risk environment improved and the currency lost some of its safe haven attraction. However, everything has swung back again in the yen's favor in the last few days. It all kicked off when the U.S. Federal Reserve gave its dovish assessment for the U.S. rate outlook, suggesting that monetary tightening would be delayed until late 2014. The market had been ... (full story)