Recent developments in the Japanese yen's value have prompted various actions and comments from Japan's financial authorities. The Bank of Japan (BOJ) has intervened in the currency market multiple times to stabilize the yen, which has been under pressure due to a significant yield gap between the U.S. and Japan. This intervention was highlighted by the BOJ's Governor Ueda, who emphasized the importance of stable currency movements reflecting fundamental economic factors. Despite these efforts, the yen has continued to weaken, with the U.S. Dollar reaching 154.80 against the yen, prompting further scrutiny and potential future interventions. Additionally, Japan's top currency diplomat, Kanda, has refrained from commenting on specific remarks by U.S. officials regarding these interventions, underscoring the delicate nature of currency stabilization efforts. Japan's Keidanren chief Tokura noted that the yen weaker than 150 yen against the dollar is too much.
$JPY CRISIS UPDATE ⚠️ The first time #Japan #MOF intervened on the $JPY it took 1 year to the FX to come back to the same level. The second time? 4months If the pattern remains the same $JPY will be back at 160 in ~4 weeks 🤷🏻♂️ @peruvian_bull @acrossthespread @leadlagreport https://t.co/PzwdcINavN https://t.co/vxXze6OqOs
⚠️ JAPAN'S HELPING HAND WITH BOE JUNE RATE CUT WINDOW Full Story → https://t.co/xPVgoNYsUH If worries about sterling were a factor preventing the Bank of England cutting interest rates too far ahead of the U.S. Federal Reserve, then Japan's dollar-selling intervention may,…
Japanese Yen continues to fall against the U.S. Dollar - will another intervention be needed soon? https://t.co/rciPJwX0XD
For Japan’s influential group of individual investors in the currency market, the latest suspected interventions to support the yen come as an ideal opportunity to load up on dollars. https://t.co/Qqqb2ROpwf
Japanese Yen acting up again. 3 interventions have no effect. https://t.co/wMhYNSiE7w
BOJ'S JGB PURCHASES FORM PART OF MONETARY POLICY.
MONETARY POLICY SHOULD BE CONTROLLED BY BOJ.
US, JAPAN REPORTEDLY AGREE ON FX INTERVENTION
Bank of Japan issues stronger warning over yen's impact on policy https://t.co/I5slhwuOsp https://t.co/HJRlrKSuXf
SUZUKI WILL APPROPRIATELY RUN FISCAL POLICY TO MAINTAIN TRUST
SUZUKI: BOJ'S GOVERNMENT BOND PURCHASES ARE A COMPONENT OF THEIR MONETARY POLICY
Dollar regains momentum as yen struggles https://t.co/7ZwHY7vIA1 https://t.co/wWxA9cecyB
SUZUKI CANNOT COMMENT ON WHETHER THE US HAS AGREED ON JAPAN'S FX INTERVENTION.
SUZUKI ON JAPAN'S MAIN POLICY AGENDA: RESPONSE TO INFLATION
JAPAN PRIORITIZES ADDRESSING INFLATION IN MAIN POLICY AGENDA.
JAPAN FINMIN SUZUKI: WE WILL CLOSELY WATCH MARKET MOVES, WILL TAKE ACTION WHEN NEEDED
JAPAN AWARE OF MEDIA REPORTS ON FX INTERVENTION
SUZUKI TO DISCLOSE MONTHLY INTERVENTION DATA AT END-MONTH
SUZUKI DOES NOT COMMENT ON GOVERNMENT INTERVENTION
Investors are ignoring the Yen collapse, the US warning to Japan not to intervene and what this may trigger. I give the details here. https://t.co/7ezFVQ8tzV
BOJ GOVERNOR UEDA TO ADJUST EASING AS PER RISING PRICE TREND
BOJ GOVERNOR UEDA WARNS OF POTENTIAL NEED FOR POLICY RESPONSE DUE TO FOREIGN EXCHANGE IMPACTS
BOJ GOVERNOR UEDA SAYS MONETARY POLICY DOES NOT CONTROL FX
SUZUKI: ASSESSING CURRENCY MARKET BEYOND JUST LEVELS
The more Japanese officials try to talk up the yen, the faster it drops. USDJPY 154.80 HOD
BOJ'S UEDA TO APPEAR IN PARLIAMENT FROM 9AM
⚠️ MORNING BID: BULLISH MOMENTUM FADES, YEN INTERVENTION RISKS RISE Full Story → https://t.co/vNnq4X9Nzi https://t.co/xLQ9ONQAhB
🤔 What's driving the strongest and weakest Forex moves today? 🤔 What's behind the decline in the US Dollar? 🤔 Why is the JPY falling again? Here's my take on it all #forextrading #japaneseyen #forex https://t.co/2afrQev9HB
Japan warns of action over rapid currency moves - Reuters https://t.co/GgKrxayD8u
BOJ: UEDA TO SPEAK AT CONFERENCE AT 5:30 P.M. WEDNESDAY
So it looks like #Japan is back at moving $USD around in the money market trying to peg the $JPY 🥹 https://t.co/bBkKX1np8m https://t.co/Pbn7AdHimt
UEDA: CONFIRMED BOJ, GOVT CLOSE COLLABORATION FOR PRICE TARGET
UEDA: CLOSELY MONITORING RECENT FX SITUATION
BOJ GOV UEDA: CONFIRMED WITH PM THAT BOJ WILL TAKE INTO ACCOUNT IMPACT OF ECONOMY, PRICES WHICH COULD POTENTIALLY BE BIG
BOJ GOV UEDA: EXPLAINED TO PM BOJ'S STANCE OF GUIDING POLICY FROM STANDPOINT OF SUSTAINABLY ACHIEVING 2% INFLATION TARGET
BOJ GOV UEDA: CONFIRMED WITH PM KISHIDA GOVT, BOJ WILL WORK CLOSELY ON POLICY
BOJ'S GOVERNOR UEDA: I DISCUSSED ECONOMY AND FINANCIAL MARKETS WITH KISHIDA.
BOJ GOV UEDA: HAD REGULAR EXCHANGE OF VIEWS WITH PM KISHIDA
Is #Japan heading for a currency crisis? Things may get ugly if the #FederalReserve does not reopen the door to 2024 rate cuts. A 🧵. Since the start of 2023, the Japanese #Yen is down 14% against the US dollar. https://t.co/XSDiClkWoi
JAPAN'S KEIDANREN CHIEF TOKURA: THE YEN WEAKER THAN 150 YEN AGAINST DOLLAR IS TOO MUCH.
The yen weakened as US calls for caution on intervention added to expectations that the currency will face continued pressure due to a wide yield gap between the US and Japan https://t.co/u0P1DR7GeL
Macro Yen drama confirmed: Japan warns of action over rapid currency moves by Satoshi Sugiyama. "Examples of Japanese yen banknotes are displayed at a factory of the National Printing Bureau producing Bank of Japan notes at a media event about a new series of banknotes… https://t.co/nGgjKwub8D
Japan warns of action over rapid currency moves https://t.co/L5QNbq7ylU https://t.co/XeIInNm50a
JAPAN CHIEF CABINET SECRETARY HAYASHI DOES NOT COMMENT ON CURRENCY INTERVENTION.
Taka Ito, professor of Economics at @ColumbiaSIPA, former deputy vice minister for International Affairs at Japan's (powerful) Ministry of Finance says yes, Yen can test 160 vs Dollar again. And this could spur more FX intervention. If and when BOJ sees inflation starting to… https://t.co/Pk0RwT99bV
Takatoshi Ito: BOJ's Inflation Stance Could Defend Yen Internationally renowned economist, former deputy vice minister for International Affairs at MOF - Ministry of Finance, says BOJ can't and won't hike rate hike to further yen weakness even as he says traders could push…
U.S. Dollar has surged back above the 154 level against the Japanese Yen https://t.co/M9jWCrMrnY
*JAPAN'S KANDA: REFRAINS FROM COMMENTING ON YELLEN REMARK Not only was their intervention the definition of incompetence, they never even pre-cleared it with the US. What an epic fiasco
JAPAN'S TOP CURRENCY DIPLOMAT KANDA EMPHASIZES THE IMPORTANCE OF STABLE CURRENCY MOVEMENTS REFLECTING FUNDAMENTAL FACTORS.
Tokyo Drifting Into A Currency Crisis The Bank of Japan intervened twice last week as JPY crossed the redline set in September 2022. What lies in store for the Japanese Yen? A THREAD 🧵👇🔥 https://t.co/qbNkGaqM0W
USDJPY bounced off the 50-day. With the interest rate differential between US & Japan, USDJPY higher is a clear theme, but intervention makes it tricky. Will be interesting to see to what extent traders push USDJPY this week. Maybe 156.00 and back off before high 150s.… https://t.co/KfTECo4Xlp
How much longer will it take the U.S. to tame inflation? That is the question Japanese authorities must be asking themselves after currency market movements that look like attempts to support the yen. https://t.co/cAe1SNjgjn
The #Yen's cat-and-mouse game continues this morning as the currency, 0.5% weaker, retraces some of its appreciation on Friday. With few of them expecting the Bank of #Japan to accelerate its monetary policy normalization, speculators may be tempted to test again the authorities’…
Fresh data on the Federal Reserve’s various accounts hints at potential ways Japanese policy makers may have funded currency interventions this past week to bolster the yen. https://t.co/tF10GcmRX9