These moves are tuning into uncontrollable ones and that’s the type that the BOJ don’t want
The chatter has grown about BOJ intervention and it’s all been overblown as usual. The BOJ are not going to step in to stop moves of a few hundred pips. Before today I would have said that there’s no way they would step in, even given the drop since the Fed hike. They’re not that short-termist. Most major central banks aren’t. Given how far the yen has fallen over the last few years they will be well aware that they might see it rise and they will be prepared to let it go where it wants, .