Commerzbank: Japan has only two remaining windows to intervene in the yen exchange rate before November

Commerzbank stated that, according to International Monetary Fund (IMF) rules, Japan can intervene in exchange rates only twice more before November, and each intervention cannot last more than three consecutive trading days. Strategist Michael Pfister wrote in a report that Japan has limited available resources, and interventions should be conducted when the cost is low, with public holidays being particularly suitable. The Independence Day long weekend in the United States this week is an especially appropriate timing.