BOJ

Yen drifts back toward 159 as US-Japan intervention effect fades

The Japanese yen traded around 159 per dollar on Monday, having surrendered roughly half of the gains achieved after the historic joint US-Japan currency intervention in late July that pulled the currency back from near four-decade lows. The recovery in…

Yen snaps losing streak on BOJ hike signals, weak US data

The Japanese yen snapped a five-session losing streak on Thursday, rebounding from a two-week low against the dollar after markets sharply repriced expectations for a Bank of Japan rate hike in September and U.S. retail sales posted their steepest decline…

Markets price 76% chance of BOJ rate hike in September as yen slides back toward 160

The Japanese yen has retraced roughly half its gains from late July's coordinated US-Japan currency intervention, drifting back toward the psychologically important 160-per-dollar level even as markets rapidly price in a Bank of Japan rate hike next month. USD/JPY traded…

Japan’s 7.2% wholesale inflation keeps September BOJ rate hike in play

Japan's producer price index rose 7.2% year-on-year in July, reinforcing expectations that the Bank of Japan could raise interest rates as early as September even as Federal Reserve hike bets cool on the other side of the Pacific.

Yen nears 160 per dollar, testing resolve of US-Japan intervention

The Japanese yen hovered near the closely watched 160-per-dollar level on Thursday, giving back roughly half the gains from a historic joint US-Japan intervention in late July and raising the prospect of renewed currency-market action by authorities in Tokyo and…

Yen nears 160 as U.S.-Japan intervention gains unravel

The Japanese yen drifted back toward the 160-per-dollar threshold on Tuesday, erasing nearly half the gains from a rare joint U.S.-Japan currency intervention carried out on July 31, underscoring the limits of official action when underlying economic fundamentals remain unchanged.

Yen erases half of $88B intervention gains as USD/JPY tops 158

The Japanese yen has surrendered nearly half of its intervention-driven gains and become August's worst-performing G-10 currency, as USD/JPY climbed back above 158 on Monday just ten days after the United States and Japan spent an estimated $88 billion in…

Yen gives back intervention gains despite weak US jobs data

The Japanese yen erased much of its post-intervention gains this week, trading near 158.50 per dollar on Friday even as a shockingly weak US jobs report briefly boosted the currency. The USD/JPY pair's resilience above intervention-era lows underscores the market's…

Japan’s 2-year bond yield hits 31-year high on BOJ rate hike bets

Expectations for a Bank of Japan rate hike at its September 17-18 policy meeting are building rapidly, with bond markets flashing their clearest signal yet: Japan's two-year government bond yield climbed 4.5 basis points to 1.605% on Friday, its highest…

IMF says BOJ has room to keep raising rates

The International Monetary Fund endorsed the Bank of Japan's path toward further interest rate increases on Thursday, with the fund's second-ranking official saying Japan's economic revival gives the central bank room to keep normalizing policy after nearly three decades of…

BoJ rate hike bets surge after strong wages, hawkish minutes

The Japanese yen strengthened on Wednesday as government data confirmed wage growth remained firm in June and Bank of Japan meeting minutes revealed policymakers discussing the need for further rate hikes, reinforcing expectations that the central bank will tighten policy…

Bessent backs faster BOJ rate hikes after joint yen intervention

A rare coordinated intervention by the United States and Japan to prop up the battered yen has reshaped the currency landscape in Asia, with Washington publicly endorsing faster interest rate increases by the Bank of Japan and signaling willingness to…

BOJ says inflation, not bond tapering, drives Japan’s rising yields

The Bank of Japan said Tuesday that accelerating underlying inflation is the primary force behind Japan's rising long-term interest rates, pushing back against the notion that its ongoing bond purchase tapering program is destabilizing government debt markets. The assessment came…

US and Japan confirm first joint yen intervention in 15 years

Japan and the United States carried out a rare coordinated intervention in foreign exchange markets last week to arrest the yen's slide to 40-year lows, their first joint action to support the currency in 15 years. The operation lifted the…

US Treasury tells banks to ‘stand ready’ for yen intervention

The U.S. Treasury informed a number of banks on Friday that it may intervene in the yen market and that they should "stand ready for future action," according to a source familiar with the matter cited by Reuters. The notice,…

Japan and South Korea jointly intervene to boost currencies against the dollar

The Japanese yen surged by as much as 2.4% against the dollar on Thursday in its biggest single-day gain since January 2023, with market participants attributing the sharp move to government intervention in New York currency markets. South Korea simultaneously…

Kospi surges in record rebound as AI chip stocks rally across Asia

Asian markets staged one of their most dramatic recoveries in years on Friday, July 31, as investors rushed back into semiconductor and artificial intelligence stocks after blockbuster earnings from U.S. tech giants eased fears over the sustainability of AI infrastructure…

Japan intervenes to prop up yen with apparent US backing

Japan intervened in currency markets on Thursday, conducting large-scale yen-buying and dollar-selling operations in New York trading that sent the yen surging as much as 3.3% against the dollar — its biggest single-day gain since 2022. The move pulled USD/JPY…

Foreign selling of Japan bonds hits 4-month high as yen languishes near 40-year low

The Japanese yen hovered near a four-decade low against the U.S. dollar on Thursday, trading around 163.5 per dollar, as a surge in foreign selling of Japanese bonds underscored mounting pressure on the Bank of Japan to tighten monetary policy…

Japan’s surging bond yields test global markets ahead of central bank decisions

Japan's 10-year government bond yield hit 2.90% in early July — its highest level since September 1996 — before easing to around 2.77% on July 27, as a confluence of Bank of Japan policy normalization and fiscal expansion under Prime…

Yen stuck near 40-year low even as oil tumbles on Iran pause

The Japanese yen remained pinned near a four-decade low on Monday, trading around 162-163 per dollar, even as oil prices tumbled and the dollar weakened broadly following a pause in U.S. strikes on Iran. The muted yen response underscored growing…

Japanese investors dump $5.9B in foreign bonds as oil tops $100

Japanese investors sold foreign bonds at the fastest pace in nearly three months during the week ended July 18, as a surge in crude oil prices past $100 a barrel rekindled inflation fears and reinforced expectations that global interest rates…

Japan 2-year bond yield hits 31-year high on BOJ rate hike expectations

Japan's two-year government bond yield rose to 1.5% on Thursday, a level not seen since 1995, as markets priced in the likelihood that the Bank of Japan will raise interest rates faster than previously expected. The move came one day…

Reuters poll: 86% of economists expect BOJ rate hike by December

A majority of economists expect the Bank of Japan to raise its policy rate to 1.25% by the end of December, with some forecasting a move as early as October, according to a Reuters poll published Thursday. The outlook highlights…

BOJ open to faster rate hikes as yen hits 40-year low

The Bank of Japan is on alert to upside inflation risks that could lead to interest rate increases at a faster clip than markets currently expect, as the yen's slide to a four-decade low intensifies pressure on policymakers to act.

Japan’s 10-year bond yield hits highest since 1996

The yield on Japan's benchmark 10-year government bond briefly touched 2.90% on Thursday afternoon, reaching its highest level since November 1996, as a global bond selloff driven by escalating Middle East tensions sent borrowing costs surging across major economies.

Yen hovers near 40-year low as intervention fears mount

The Japanese yen traded near a four-decade low on Monday, hovering around 161.57 per dollar as the wide interest rate differential between the United States and Japan continued to weigh on the currency despite the Bank of Japan's recent rate…

Yen hits 40-year low as government adviser urges more BOJ rate hikes

The Japanese yen sank to 162.84 per dollar on Wednesday, its weakest level since December 1986, as rising U.S. Treasury yields and expectations of Federal Reserve rate hikes widened the interest rate gap between the two economies. The fresh four-decade…

Yen slides to brink of 40-year low despite BOJ rate hike

The Japanese yen traded near its weakest level in nearly four decades on Friday, June 19, putting markets on heightened intervention watch as the Bank of Japan's rate hike earlier in the week proved insufficient to arrest the currency's slide.

BOJ deputy governor vows more rate hikes as inflation risks mount

Bank of Japan Deputy Governor Ryozo Himino told parliament on Friday that the central bank will continue raising interest rates, warning that underlying inflation risks overshooting its 2% target. The remarks came days after the BOJ raised its benchmark rate…