The yen exchange rate soared after the US CPI was announced, and Kanda Treasurer said without mentioning the presence or absence of intervention
2024/7/12 8:50 JST (some excerpts)
Reports that the government and the Bank of Japan intervened, rising by more than 4 yen at one point due to US time trading
Kanda says “I am not in a position to comment” on exchange intervention
The yen exchange rate soared in the New York foreign exchange market on the 11th. Since the US Consumer Price Index (CPI) fell below market expectations, US interest rate reduction observations intensified, and it rose by more than 2% against the dollar. There were also reports that the Japanese currency authorities had implemented yen buying intervention.
A few minutes after the US CPI was announced, the yen rose by more than 4 yen at one point, and 1 dollar = 157 yen 44 yen was added. There was also a rapid increase in transaction volume, which was reminiscent of the Bank of Japan intervention in the past.
Reports that the government and the Bank of Japan intervened, rising by more than 4 yen at one point due to US time trading
Kanda says “I am not in a position to comment” on exchange intervention
The yen exchange rate soared in the New York foreign exchange market on the 11th. Since the US Consumer Price Index (CPI) fell below market expectations, US interest rate reduction observations intensified, and it rose by more than 2% against the dollar. There were also reports that the Japanese currency authorities had implemented yen buying intervention.
A few minutes after the US CPI was announced, the yen rose by more than 4 yen at one point, and 1 dollar = 157 yen 44 yen was added. There was also a rapid increase in transaction volume, which was reminiscent of the Bank of Japan intervention in the past.
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