No offense taken. We disagree. In the literal sense of the word, yes the yen or the dollar or the Euro "can" drop to zero. I wasn't speaking in the literal sense. I was speaking that economic and political pressure will force some sort of intervention. The BoJ will intervene (in my opinion). Is it today, tomorrow, or when the a new govt comes in because people are unhappy with their purchasing power disintegrating before their eyes. I am betting my shekels it is much sooner rather than later. If I'm wrong I cut bait at -10%. If I'm right I make a some coin.
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WSJ reporting the Japs intervened overnight and propped up the yen. MSN link since the WSJ link is paywalled.
"The yen weakened to around 160 per dollar on Monday, but bounced back to around 155 per dollar after Japanese authorities started buying yen and selling dollars, according to the people.
Japanese officials didn’t officially confirm the move but Masato Kanda, the finance ministry’s top currency official, hinted at the intervention.
“It is difficult to ignore the bad effects that these violent and abnormal movements [in currencies] will cause for the nation’s economy,” said Kanda, adding that the government will “continue” to respond to wild currency moves."