The USDJPY is back in the 150 range, after a dramatic reversal from where it nearly touched the 150 handle. But it wasn’t thanks to anything the BOJ or Japanese authorities did. It’s just that the dollar got weaker even faster, thanks to US CPI figures coming in below expectations. Which means that the trends in Japan that caused the currency to weaken are still in place. Which opens an important question: Why isn’t the BOJ doing anything about the currency? Last year, the Japanese government stepped in at this point to keep the currency from falling too much. It had been flirting with resistance at 150 (which has ... (full story)