Japan PM Kishida: FX intervention not a contradiction of policy

<ul><li>Intervention does not contradict policy of shifting money away from savings towards investment</li><li>BOJ holds ETFs, JGBs as part of monetary policy</li><li>It is up to the BOJ to decide whether to sell its ETF holdings</li></ul><p>This is more on the semantics of their policy actions, not so much about what is happening right now. So far, all Japan is offering up is verbal intervention and that's a yellow light to move above the 150.00 mark I would say. Why yellow? Well, it would depend on the pace and steepness of the climb as well. If it goes too fast, we could see Tokyo step in again.</p>

This article was written by Justin Low at www.forexlive.com.