Reuters: Yen stumbles to 40-year low as clock ticks on intervention

'Katayama's comments "avoided the verbal escalation that often precedes a buying effort, instead reiterating that authorities stand ready to respond at any time," ​said Karl Schamotta, chief market strategist at Corpay Cross-Border Solutions. That said, "we would note that Thursday's non-farm payrolls report and Friday's Independence Day holiday — when US liquidity will thin dramatically — ​could provide attractive opportunities for wrong-footing speculative short positions," Schamotta said.'

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