A lot of traders are aware that there will be a big intervention if the yen breaks through (below) 118. Right now the [Bank of Japan] scare is working. |
If there is an accelerated depreciation to 105 yen, they will intervene without a doubt. |
The private sector revival is not as strong as the government would like it to be. |
Without the (stimulus package) this would not have happened. They front-loaded everything into the first half and the money is running out. It is too early to say whether the economy is back on track, particularly in the private sector. |