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The Korean won has become Asia's best-performing currency, fueled by coordinated market intervention and booming tech exports that are challenging the
Intervention fear has boxed in USD/JPY, but the yen still needs BoJ policy support to force a real trend break.
US help makes yen intervention harder to fade, but the Fed-BoJ rate gap still gives USD/JPY bulls a macro lifeline.
Suspected intervention and a hawkish BoJ just hit USD/JPY, warning yen bears that policy risk is back with teeth.
USD/JPY eased near 163 as Japan's intervention warnings made traders think twice about a crowded dollar-yen carry trade.
The SNB held rates at 0.00%, but its FX intervention threat keeps Swiss Franc bulls on notice.