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ANALYST VIEWS:?WHAT DOES JAPAN’S MOVE TO INTERVENE MEAN?
SIMON DERRICK | BANK OF NEW YORK MELLON
The intervention by Japanese authorities was in the top ten largest interventions this year. It’s been very successful on the day. It’s interesting that there seems to be support from the EU for the intervention.
ASHRAF LAIDI | CMC MARKETS
It doesn’t mean much for the sterling-yen trade, though we could see a brief reprieve in the rates. It’s not the start of a systematic intervention but Japan can now try to run the show with additional verbal warnings.
CHRIS REDFERN | MONEYCORP
Last week Japan reached the end of its tether, and this could be a bit of a short-term move to point the market away from endless rises in the currency. We could see more interventions,?the yen is no longer a one-way street.