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Bank of Japan Widow-Makes Once Again | Weston Nakamura

Forward Guidance

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What Caused That Reversal?

On October 21st, 2022 and around 10 30 or 10 45 Eastern time, that was the top tick in US, uh, DJPY. The ministry of finance on at that time did their second unilateral intervention intervention,. They sold dollars bought yen without the permission of the US treasury. That basically corresponded with a like spike in volume on JPY futures. And then that basically bled into a series of catalysts that called for the end of this short yen trade.

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