There may be cases where we may conduct stealth intervention. • We cannot tolerate excess volatility, disorderly FX moves. • Always on standby for in case there is a need for action. • Recent FX moves have been rapid. The headline remark is a bit contradictory as he also says that they won't necessarily comment on whether there has been any intervention. I mean c'mon, make up your mind as to which it is. Pfft. Anyway, he also doesn't provide any comment on rate checks for today after having seen USD/JPY quickly turn tail on a push above 145.00 earlier. All in all, the comments here aren't anything we haven't heard of ... (full story)