Bank of Japan pushed to take currency action

Source: Yahoo Finance

Here we go again, another shot over the bow in the currency wars. The race to the bottom of the barrel is on. Why is it that a central bank always wants to devalue their currency? Jobs, jobs, jobs, but wait isn't that a political issue. Isn't the central bank of a country suppose to be independent from the political machine? I always thought that a strong currency was good for the citizens of the country. Anyways, I stop ranting now.

If the Bank of Japan is pushed into intervention, I don't how successful it will be without the help of the U.S. and Europe. We just witinessed how unsuccessful Switzerland's intervention was. It was successful while it was on but as soon as it stopped the market took the CHF back almost to the point where it started, leaving the central bank stuffed with devalued Euros.

Read FT's story on possible Yen intervention here