The Bank of Japan may have intervened in this pair, but at the end of the day, there is very little they can do to change the trend, only being able to slow it down.
The Aussie continues to see a lot of sideways action, as the market is looking to find some kind of reason to make a bigger move.
The government likely deployed some $20 billion after the Federal Reserve stood pat on Wednesday, data Thursday from the Bank of Japan suggested. Tokyo undertook a similar bout of yen buying earlier in the week. The rough estimates are based data on falling current deposits of commercial banks at the central bank.
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