USD/JPY trades near 159.00 after Dollar sell-offs
The US Treasury has informed banks that it may enter the USD/JPY market, prompting traders to stand ready for further action.
The Dollar has been sold in three separate instances since the Tokyo morning, with no entity claiming responsibility.
This pattern suggests an operation rather than a market-driven move, with traders struggling to distinguish between an operation and a liquidation.
The Japanese government spent a record sum on Thursday to defend the Yen, and can now hold the level with less money or none at all.