Another spurious headline, this time from Reuters: "Japan's MOF has prepared a draft statement in the event of BOJ action," has sparked another vertical ramp, stop run in USDJPY…
Full Reuters headline: YEN WEAKENS ON REPORT THAT JAPANESE GOVERNMENT IS PRESSURING BANK OF JAPAN TO EXPAND STIMULUS
So much for that "independent" central bank!!
As we noted,
BOJ's favorite tactic: use media "leaks" to take out upside stops ahead of major events
— zerohedge (@zerohedge) July 28, 2016
Strongly suggesting Kuroda will get back to work tonight.
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