Yen tumbles vs euro, U.S. dollar as markets on alert for Japan intervention

“Japan's yen has failed to capitalize on fairly explicit intervention warnings from Finance Minister Shunichi Suzuki, suggesting that market participants expect no change in policy settings when the Bank of Japan meets later in the week," said Karl Schamotta, chief market strategist, at Corpay in Toronto. "If officials fail to lower asset purchases – currently running at around six trillion a month – rate differentials should remain yawningly wide, helping nullify any short term intervention efforts."

Read the CNBC article here.