CryptoWorld News reports that Moody’s analyst Stefan Angrick said it is too early to conclude that Japanese authorities will intervene in the foreign exchange market again. Over the past few days, the yen has seen sharp fluctuations multiple times, which has fueled market speculation about Japanese authorities intervening in the FX market. He noted that compared with last week, overall exchange-rate volatility in the recent period has not been as intense, and it is reasonable to believe with a fair degree of confidence that foreign-exchange intervention occurred last week. Changes in market positioning may also have contributed to these fluctuations. However, if the Japanese government really does carry out intervention, the scale of such operations may be smaller and more targeted. Distributing the intervention actions over several days can allow Japanese authorities to describe these operations as part of a single action, with the aim of curbing disorderly trading. This explanation may be helpful to Japanese authorities, because in principle, large economies operating under a floating exchange-rate system should not intervene in the foreign exchange market.