USD/JPY: Verbal intervention slows slide in Japanese Yen – Scotiabank
Par FXStreet Insights Team
Mis à jour: 30 Mar 2026
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Scotiabank strategists Shaun Osborne and Eric Theoret report that the Japanese Yen opened very weak, with USD/JPY spiking near 160.50 before stabilizing after fresh warnings of potential “bold action” from Japan’s Vice Finance Minister Mimura.
Scotiabank strategists Shaun Osborne and Eric Theoret report that the Japanese Yen opened very weak, with USD/JPY spiking near 160.50 before stabilizing after fresh warnings of potential “bold action” from Japan’s Vice Finance Minister Mimura. They argue that authorities will likely rely on verbal intervention while Gulf-related uncertainty persists, with reluctance to conduct direct FX intervention under current geopolitical conditions.
Authorities lean on words over direct action
"The JPY opened trading in Asia on a weak note, quickly falling to near 160.50 before steadying in response to the renewed threat—this time from Vice Finance Minister Mimura— of potential “bold action” to reverse the decline."
Verbal intervention is likely to remain the first line of defence for the MoF while the Gulf uncertainty persists. There will be a reluctance to intervene directly while the chances of success are affected by geo-political uncertainty.
"Note Japan releases jobs, Retail Sales and IP data this evening."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
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