''Officials sold the move as a means of “protecting the Yen from excess volatility” as the currency has fallen 26% against the US dollar since March, and it is the first time since 1998 that Japan has intervened by buying Yen. The measure did provide some short relief for the pair as it dropped back to 140.30 on the announcement.''
''But traders remain skeptical that the Yen can be protected from further depreciation without interest rate hikes from the Bank of Japan (BoJ). ''
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