Rumors are beginning to circulate that the Bank of Japan (BOJ) is considering another intervention into the forex market after the value of the yen (JPY) surged late last week and has continued to gain this week. The USD/JPY was seen trading near 78.00.
The last time such a value was approached the BOJ stepped in to purchase vast quantities of US dollars (USD) in order to push the value of the yen lower by releasing more of its domestic currency into circulation. With the yen once again climbing to these intervention levels, it appears only a matter of time before the BOJ makes a decision to step into the spotlight once more, or not.
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