FOREX-Dollar hits 150 yen then dips on intervention jitters

It reached 150.165 on Oct. 3 before quickly dropping back to 147.3, but market participants say it is not clear whether the move resulted from an intervention by the Ministry of Finance (MOF) or was caused by market nerves and trading stop losses or other automated trades being triggered. "The market is obviously very mindful that the 150 threshold… is a potential precursor for the uncertainty of having the MOF on the other side of it," said Jeremy Stretch, head of G10 currency strategy at CIBC Capital Markets. Analysts say that the speed and context of the move and how far it goes above 150 will likely influence whether the Ministry of Finance steps in.