Japan intervenes in FX market to stem yen

Japan intervened in the foreign exchange market on Thursday to buy yen for the first time since 1998, in an attempt to shore up the battered currency after the Bank of Japan stuck with ultra-low interest rates.

According to MarketMilk, JPY shows strength across the board:

Looking at Market Movers, the biggest loser against JPY is CHF:

A 2.6% move! That’s huge in the FX market!