currency intervention

Nomura warns U.S.-Japan ‘currency alliance’ risks repeating 1997 crisis

The United States and Japan have forged what analysts are calling an informal "currency alliance" following their first coordinated foreign exchange intervention since 1998, marking a shift in how the world's two largest advanced economies manage exchange-rate pressures.

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South Korea, Japan vow deeper FX cooperation after rare joint intervention

Senior finance officials from South Korea and Japan met in Tokyo on Friday, vowing to maintain close coordination just three weeks after a rare coordinated currency intervention jolted regional markets and helped bolster both the won and the yen.

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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…

Carry traders reload yen shorts as $87B intervention fades

The historic joint U.S.-Japan currency intervention that shook foreign exchange markets at the end of July is already losing its grip. Less than two weeks after authorities deployed an estimated $87 billion to defend the yen, the currency has retraced…

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…

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…

Japan’s government backs faster BOJ rate hike to defend yen

Prime Minister Sanae Takaichi's government has signaled support for a near-term interest rate increase by the Bank of Japan, with September or October emerging as the most likely timing for the next move, according to a Bloomberg report published on…

Yen holds near 159 after soft US CPI eases pressure

The Japanese yen clung to modest gains against the US dollar on Wednesday, trading near 159 per dollar, after the Bureau of Labor Statistics reported that the Consumer Price Index rose just 0.1% month-over-month in July — a reading soft…

Eurizon calls US-Japan yen intervention a ‘watershed moment’

Eurizon SLJ Capital declared the joint US-Japan currency intervention a "watershed moment" and predicted the dollar-yen exchange rate has peaked, forecasting the Japanese currency could eventually strengthen to 125 per dollar — a gain of more than 20% from current…

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…

Japan minister says fiscal plans will boost yen long term

The US Treasury's decision to join the Bank of Japan in a coordinated yen-buying intervention — the first such joint operation since 2011 — has stabilized the Japanese currency in the short term, but analysts warn that lasting relief will…

Japan says it stands ready with US for further yen action

Japan's Finance Minister Satsuki Katayama said Tokyo remains in close communication with the United States on foreign exchange developments and that both countries are prepared to take further action if currency volatility intensifies. The remarks, made in the days following…

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…

UBS sees gold reaching $5,000 after rally past $4,200

Gold rallied more than 4% on Wednesday, pushing above $4,200 an ounce in its largest single-day gain in months, as the fallout from a rare U.S.-Japan currency intervention continued to reshape market dynamics and raise questions about policymakers' grip on…

Goldman Sachs dismisses dollar threat after US-Japan yen intervention

Goldman Sachs The Goldman Sachs Group, Inc. pushed back on Thursday against concerns that last month's joint US-Japan currency intervention could undermine the dollar's status as the world's dominant reserve currency, arguing the episode instead highlights why no credible alternative…

BlackRock warns US yen intervention raises geopolitical risk

BlackRock warned on Thursday that the U.S. decision to sell euros to support Japan's yen without notifying European policymakers is adding to geopolitical risks and diminishing the appeal of longer-maturity government bonds.

Japan reveals record single-day yen intervention of 6.28T yen

Japan's Ministry of Finance disclosed on Friday that authorities purchased 6.2787 trillion yen on April 30, marking the largest single-day yen-buying operation ever recorded. The data, released as part of a quarterly breakdown covering April through June, confirms the scale…

Fed data shows Japan didn’t tap FIMA facility despite Bessent’s expansion push

The first joint US-Japan currency intervention since 1998 has lifted the yen from 40-year lows, but the unprecedented decision to finance the American side by selling euros rather than dollars has drawn criticism from economists who warn the approach may…

Bank of America projects yen rising 6% after rare U.S.-Japan intervention

Bank of America has sharply lowered its year-end dollar/yen forecast to 149 from 152, projecting the Japanese currency will strengthen roughly 6% from current levels near 158, following the first coordinated U.S.-Japan yen-buying intervention in over a decade.

Yen gives back gains from historic US-Japan intervention

The Japanese yen continued to lose ground against the dollar on Thursday, drifting back toward 157.70 after last week's historic joint US-Japan intervention briefly pushed USD/JPY down to 155.20 on Monday. The currency pair has now retraced roughly two big…

Yen resumes slide as Japan’s unfunded tax cut undercuts intervention gains

Days after a historic joint US-Japan currency intervention briefly pulled USD/JPY below 156, the yen has resumed its slide as markets digest a costly and unfunded fiscal package that analysts say works against the very goals the intervention was meant…

Yen drifts back toward 158 as US-Japan intervention gains fade

Less than a week after Washington and Tokyo stunned currency markets with their first coordinated intervention to support the yen since 1998, the Japanese currency is already giving back its gains, drifting back toward 158 per dollar and raising doubts…

Reuters poll shows yen likely to weaken despite joint US-Japan intervention

The United States and Japan last week confirmed their first coordinated yen-buying intervention since 1998, pulling the Japanese currency back from a 40-year low near 164 per dollar. But analysts broadly agree the operation has only bought time, with a…

BofA sees yen jumping 6% after US-Japan intervention

The United States and Japan last week carried out a rare coordinated intervention in currency markets to arrest the yen's slide to 40-year lows, a move that has reshaped expectations across Asian foreign exchange markets and drawn in South Korea…

Bessent flags Korean won volatility after US-Japan yen intervention

U.S. Treasury Secretary Scott Bessent flagged "excess volatility" in the South Korean won during a CNBC interview on Tuesday, linking the currency's instability to broader regional dynamics following a rare joint U.S.-Japan intervention to prop up the yen last week.

Carry trade survives US-Japan intervention as investors shift to new currencies

The first joint U.S.-Japan currency intervention in over a decade sent the yen surging nearly 5% in a matter of days, but the global carry trade it was meant to disrupt is proving stubbornly resilient — with investors simply rotating…

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…

Bessent warns weak yen could trigger Asian currency wars

U.S. Treasury Secretary Scott Bessent warned on Monday that continued weakness in the Japanese yen could fuel inflation in Japan and put pressure on other Asian currencies, days after Washington and Tokyo confirmed their first joint currency intervention in 15…

U.S. and Japan confirm first joint yen intervention since 2011

The United States and Japan confirmed last week they carried out a rare coordinated intervention to prop up the Japanese yen after it slid to 40-year lows, marking the first joint currency market action by the two allies since 2011.…