Traders say hedge funds are wary of Japan's Ministry of Finance intervening on Friday to support the yen

On June 30, traders said hedge funds were reluctant to establish new long positions against the U.S. dollar/yen at current levels, fearing that Japan might intervene when U.S. markets were closed for a public holiday on Friday. Traders added that if Walsh makes hawkish remarks and U.S. non-farm payrolls data supports a Fed rate hike, the U.S. dollar/yen exchange rate could approach 165. However, traders pointed out that Japan's Ministry of Finance has repeatedly warned of possible intervention, and the liquidity of the U.S. market will be light when it is closed due to holidays, so Japan may intervene on Friday.