Japan is experiencing a weakening yen, falling past ¥150 per dollar due to US inflation data. Bank of Japan Governor Kazuo Ueda faces minimal political opposition in considering an interest rate hike, with expectations for the move by April. Japanese officials are prepared to act as needed amid the yen's decline, with options traders betting on further declines and potential intervention. Economy Minister Shindo aims for wage increases above inflation to drive consumption growth, aligning with the government's push to end deflation.
🇯🇵 $JPY Intervention Chatter: The yen, meanwhile, halted losses ahead of the (GDP) data — but not enough to stop options traders from betting on further declines amid speculation over potential intervention by Japanese officials. Open interest for near-date CME yen contracts… https://t.co/xoaLBYizhb
A senior Japan Cabinet Office official said the nation is at the final corner before declaring victory over deflation, a comment that suggests the government is largely aligned with the Bank of Japan https://t.co/z2yCmty1wR
🔴 SHINDO EXPECTS BOJ TO WORK CLOSELY WITH GOVERNMENT AND IMPLEMENT MONETARY POLICY TO ACHIEVE PRICE TARGET WITH WAGE RISES
🔴 JAPAN ECONOMY MINISTER SHINDO: BOJ TO DETERMINE SPECIFIC MONETARY POLICY MEASURES
🔴 JAPAN ECONOMY MINISTER SHINDO UNDERSTANDS BOJ CONSIDERS MULTIPLE DATA POINTS, INCLUDING CONSUMPTION, ECONOMIC OUTLOOK, AND RISKS, IN GUIDING POLICY.
🔴 JAPAN ECONOMY MINISTER SHINDO AIMS FOR WAGE INCREASES ABOVE INFLATION, LEADING TO CONSUMPTION GROWTH
The yen is confounding expectations for a rally this year as Japanese appetite for global equities deepens a slump driven by higher US Treasury yields https://t.co/b5FmUBDcm8
Options traders are betting on further declines in the yen and potential intervention by Japanese officials, with open interest hitting a 17-year high https://t.co/k71bKkg8Jl
The yen is back over 150. The MoF's Mr. Kanda has taken note “Some of the recent rapid moves are in line with fundamentals, but some are clearly speculative. I think the latter aren’t desirable." The MoF intervention watch is back on https://t.co/zJfoyoNch0
The Bank of Canada is likely to wrap up its quantitative tightening program as early as April, sooner than policymakers had previously indicated, according to RBC Capital Markets strategists https://t.co/6gyBP1zGnh
The next key level for the yen is around 152 per dollar, where officials in Japan are likely to go on high alert but hold off on intervening in the market, according to currency strategists in Tokyo https://t.co/wuB4nGViTO
The yen weakened past 150 to the dollar for the first time since November, drawing a rebuke from Japanese officials https://t.co/OPf0vWoLH4
A lack of opposition has opened the way for Bank of Japan Gov. Kazuo Ueda to proceed with an interest rate hike, with most BOJ watchers expecting the step to be taken by April. https://t.co/ayNQXPbxMd
Yen’s Slide Past 150 To Dollar Prompts Stern Warnings From Japan - Yahoo https://t.co/6uGhLpouLI
The yen’s rapid fall past 150 against the dollar adds a further complication for the Bank of Japan as it considers the best timing for its first interest rate hike since 2007 https://t.co/84N4yvtdBZ
Japan's currency diplomat says ready to act as needed amid yen's fall https://t.co/pIX7XS1E6Q
The yen weakened past ¥150 per dollar for the first time since November, breaching a key level that has previously prompted pushback from Japanese authorities, after a hotter-than-expected U.S. inflation reading reduced the appeal of Japanese assets. https://t.co/iatTVJ4ita
Governor Kazuo Ueda is in a rare sweet spot for Japanese monetary officials as he weighs a historic policy move with virtually no political opposition, in sharp contrast to the experiences of his Bank of Japan predecessors https://t.co/x7B2HYgXGV
The yen weakens beyond 150 per dollar after US consumer price inflation data, reviving the likelihood of an intervention https://t.co/lBaTOk05M1
Japan edging closer to ending deflation, pay hikes key: government paper https://t.co/PCUdgurhFK