Forex Account – Early in the Asia forex market on Monday (August 30) a forex analyst Geoffrey Yu in UBS said even though the forex brokers still believe the Japanese government would not take the intervention action to the forex price of JPY in the forex market immediately, but at present the forex rate of USD/JPY still got a rebound to above 85.50.
At the beginning of the forex market on Monday, there’s news saying that BOJ hold a emergency meeting at 08:00 on Monday Beijing time, and it was predicted that a news conference would be hold within the trading session in the forex market.
Last Friday (August 27), the president of BOJ Massaki Shirakawa went back to Japan from US ahead of schedule and the speech of Naoto Kan both indicated the intervention action of JP government towards the forex price of JPY in the forex market was just approaching.
UBS pointed out the forex brokers had predicted the intervention action of JP government would be taken in the forex market, but they doubt about its effect.
The forex rate of USD/JPY was at 85.67/70 at 08:47 Beijing time.
Edited by laura in ikonfx.com