MNI BRIEF: BOJ Rate-Checking Euro, May Intervene

Bank of Japan officials are “rate-checking” against the euro in FX markets, meaning the BOJ stands ready to conduct forex interventions, the Nikkei reported.

The BOJ is known for “rate-checking” before intervening, with the Ministry of Finance acting as final decision maker.

Japanese authorities conducted yen-buying interventions against the U.S. dollar early on Friday, local media reported.