Neil Jones, head of FX sales and trading at TJM, said the 400‑pip drop in USD/JPY strongly suggests the Japanese Ministry of Finance (MOF) may have conducted further official intervention. The yen has strengthened against all major currencies, so this is not merely dollar weakness.

2026-07-30

Neil Jones, head of FX sales and trading at TJM, said the 400‑pip drop in USD/JPY strongly suggests the Japanese Ministry of Finance (MOF) may have conducted further official intervention. The yen has strengthened against all major currencies, so this is not merely dollar weakness.