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USDJPY slumps on BoJ intervention

9:20 AM 22 September 2022

USDJPY slumped from around 145.80 to below 143.50, following intervention by the Bank of Japan. A strong downward move on USDJPY occurred at around 9:00 am BST and it was confirmed around 15 minutes later by Masato Kanda, Japanese top FX diplomat, that intervention indeed took place. Kanda said that they will continue to monitor markets with high sense of urgency as the government is concerned about excessive depreciation of JPY.

This was the first FX intervention in Japan since 1998.

USDJPY slumped following BoJ intervention. Source: xStation5

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