Market Alert to Signs of Japanese Intervention, USD/JPY Slightly Dips on Tuesday

　　On Wednesday (July 5) Asian trade, the US dollar/yen low higher, currently trading around 144, as of 09:18 Beijing time, the US dollar against the yen quoted 144.54, up 0.08%, the last trade dollar against the yen exchange rate at the lowest 144.19, the close of 144.45.

　　The dollar fell slightly against the yen on Tuesday, with markets on high alert for signs of Japanese intervention.

　　Across the currency markets, investors remained focused on possible intervention by the Japanese authorities to stem the yen's slide.

　　Earlier on Tuesday, Japanese Finance Ministry Finance Minister Masatsu Kanda said officials were in close contact with U.S. Treasury Secretary Janet Yellen and other overseas authorities on the currency and broader financial markets on an almost daily basis.

　　"The BOJ is still reluctant to exit the YCC policy, which will lead to a higher dollar," he said, referring to Japan's yield curve control policy, which has kept Japanese government bond yields low.

　　Tan said the dollar is likely to rise above 150 yen, which would make intervention "more likely."

　　Usdjpy came under some selling pressure on Tuesday, reversing most of the previous day's positive moves back to near the psychological level of 145.00.

　　Spot prices continued to languish during the first half of the European session and are currently trading just below around $144.00, down 0.15% on the day.