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Did Yellen say it was OK? USD/JPY rises above 156.75

Listening to the BOJ governor debriefing the press this morning, it is easy to get the impression that he is not the least bothered about the exchange rate. Certainly nothing Ueda has said so far has given any rise to think anything to the contrary. That is something of a sea-change it seems and it is not being wasted on the FX markets either, as the USD/JPY surges even higher. Perhaps Ueda is trying to suck the markets in and engineer a move that may yet later trap the market overly long on the dollar? This is a point that was made here much earlier this week. At the same time, such a piece of financial engineering is no given either. What also seems come to mind here; is the recent visit to Japan by the US treasury secretary, Janet Yellen. So, is it possible that Yellen gave the green light to the Yen weakening further and not label Japan as a currency manipulator? Well that is a possibility too, but not one likely to be confirmed officially at any rate. The USD/JPY is just now trading at 156.79 as all those Yen crosses continue to extend those multi- year highs 

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