Independent Strategist, Olivier Desbarres, looks at the FX Reserve and its current situation. <br /> <br />The yen has failed to materially weaken, despite the Japanese Finance Ministry’s recent verbal intervention. This highlights how a widening policy-credibility deficit can stymie policy-makers’ ability to slow, let alone stop, rapid FX appreciation. <br /> <br />If, and it’s a big if, the Japanese Finance Ministry intervenes in the FX market before the BoJ’s 28th April policy meeting, it will have to be aggressive to be effective. <br /> <br />Read the accompanying article on my website here: http://www.olivierdesbarres.co.uk/fx-reserves-things-considered-equal/
