Following the BOJ meeting and even the week before, the Japanese Yen has nearly collapsed to its lowest level in 38 years.
USD/JPY exchange rate has surpassed 158 – far exceeding the levels that prompted BOJ interventions in the past.
Although Japanese Finance Minister Shunichi Suzuki affirmed after the BOJ meeting (last Thursday) that: BOJ will take appropriate action based on forex market movements (forex)… BOJ actually made no statements about protecting the Yen.
