When Will Katayama Pull the Trigger? NEW
Predicting when a finance minister will intervene in the currency market is a fool’s errand. The MOF does not publish a schedule. The whole point of intervention is surprise: catching speculators wrong-footed, inflicting maximum pain per yen spent. Anyone claiming to know the date is selling you something. And yet. The decision to intervene is not made in a vacuum. It requires political clearance, diplomatic coordination and tactical conditions that do not appear on demand. These constraints are visible. They can be mapped against a calendar. The result will not be a date circled in red but a window, the period during which the political stars align and the MOF gains the freedom to act. ...