The Japanese yen has experienced a significant decline, falling by 25% against the U.S. dollar to a new low of 160, the weakest level since 1990. This drop has raised concerns about the impact on Japan's economy, particularly as only 3% of Japan's debt is in foreign currencies. The sharp fall has led to increased costs for imported goods like oil, heightening difficulties for households and businesses. Despite these challenges, the Japanese government and the Bank of Japan (BOJ) have refrained from intervening in the foreign exchange markets to stabilize the currency. Market participants and traders are closely watching for any signs of potential intervention by Japanese authorities, especially as the yen's rapid decline triggers speculation about market interventions.
Time to book a trip to Japan? The weakening JPY is boosting the Japanese tourism industry. This improves the country's balance of payments and is a desired outcome of currency devaluation. https://t.co/V0ERQ04nho
The Yen briefly dropped to ¥160 for the first time since 1990. The USD-JPY hit that mark post-Bubble and it’s wild revisiting 1989 Japanese asset prices: ▫️Peak Tokyo real estate was $139k a square foot (350x Manhattan prices) ▫️Land under Imperial Palace worth more than all… https://t.co/lfQRDSK4gu
DOLLAR/YEN FALLS BACK BELOW 155.50 AMID MARKET JITTERS ABOUT SUSPECTED BOJ INTERVENTION, LAST DOWN 1.72% AT 155.60
Am puzzled by the absence of any announcement from MoF or BoJ. I thought the evidence is that currency-market intervention works best when announced (and, of course, coordinated, but that wasn't going to happen this time.) https://t.co/pdYVRQJ1hN
#Yen slide indicates that relative debt-to-GDP positions matter the most in an elevated global interest rate environment. #EUR #CNY might be next
We're putting out a new @BrookingsInst blog every two weeks. Last week's post noted that markets are the most Dollar bullish in a long time. That's why Japan's Yen is falling so much and why depreciation pressure on RMB is mounting. USD will keep rising until something breaks... https://t.co/NHlinW21vX
The Yen is weak because US Yields are high. To defend the Yen, the BoJ will need to sell bonds. This will push US yields higher. ♻️ China's ~holding the peg whilst easing...thus far. But higher US yields will pull capital out of China and put downward pressure on the RMB. https://t.co/FgcajFWPIN
Dollar strength is causing dislocations overseas. In Japan, policy is descending into incoherence with the MoF intervening to strengthen Yen, while BoJ pursues policies to weaken it. Similar incoherence in China, where $/CNY (blue) has decoupled from the official fix (black)... https://t.co/acCPqumDMU
Japanese yen: *swings wildly on a public holiday* What will YOU do on your holiday? Yen Sparks Intervention Suspicion After U-Turn From 1990 Lows https://t.co/PmfEFr7sis
It makes NO sense for Japan's MoF to intervene to strengthen Yen (black), if - simultaneously - BoJ is buying JGBs (blue), which weakens Yen. This is what happened in 2022, when $/JPY was 140. We're now at 157, which tells you just how ineffective this kind of intervention is... https://t.co/ulwGMcztbf
Unilateral intervention in large, developed world exchange rate markets is pretty useless without meaningful change in the underlying fundamentals. This round with JPY likely to be just another example. Already fading despite such a big push overnight. https://t.co/kAVMbx851L https://t.co/DtMm263YZe
CME said Monday was the most active session of the year for dollar-yen trading Notional value of around $98BN was exchanged in the currency pair as of 3pm London time, including over $68BN across its spot EBS platform and $30BN in FX futures Intervention all right
Japan has a long and unsuccessful history of official FX intervention in the Yen. Now is no different. After a brief strengthening, Yen is already falling again. Only way to stabilize Yen is to allow 10-year JGB yield to rise sharply, which is something Japan can't afford to do. https://t.co/6XIwEoxCSX
Japan is intervening in the FX market to stop the JPY bleed. How? It is likely doing so through the FX swap market (derivatives), therefore not necessarily selling securities. If selling, they have $2.5 trillion total, $1tn Treasuries, $250bn MBS, $300bn corporate bonds. https://t.co/aG8Egn9zrO
JAPAN Intervention - Will Japanese Yen intervention work? Have we seen a top in USDJPY? Let's go through the charts 👇 https://t.co/OxBYcYdzur #forex #forextrading #jpy #japanintervention https://t.co/OxBYcYdzur
the japanese yen moving 4% intraday makes it almost as volatile as $SOL in the last 24h https://t.co/rkK1rrVp1j
Five charts on the Japanese yen's decades-long drop https://t.co/Qvl83szPRQ https://t.co/8R58mv33MT
Fed’s to Blame for the Yen’s Problems. Here’s Why. https://t.co/xEkgeaFmRT
Priced in Gold, the Yen is now down about 36% from just one year ago and down about 62% from pre-Covid. That is insane. It's the world's fourth largest economy.
Japan intervened to prop up the yen after the currency hit a multidecade low against the dollar on Monday @WSJ says https://t.co/aKZZgJnhuC
Here's my take on 🇯🇵 Japanese Yen Intervention & what to expect for FOMC, NFP, US Dollar & EURO this week #forextrading #forextrader #daytrader #daytrading #jpyintervention #bankofjapan https://t.co/fIsiUL7dra
Japan needed to counter the speed of the USDJPY not just the level - before it gets away from them. Yen rebound signals Japanese government intervention, traders say #forex #forextrading https://t.co/RJWgT5gvMG
It's been a yo-yo session for the yen overnight. After USDJPY traded above 160 overnight, it reversed and traded below 156. https://t.co/Vb7SaqKxi6
Breakingviews - Yen intervention is a lost cause worth pursuing https://t.co/YvU2BPumUK https://t.co/YvU2BPumUK
USDJPY weakening back to 156 having briefly seen below 155 earlier Still no sign of this BoJ intervention though... https://t.co/pycLEyYo0J
Dollar/yen recoils sharply from 160.00 on suspected Japanese intervention. But worth noting that at 156.50 per $, the yen is still weaker now than it was before the BOJ's policy decision on Friday (155.50 per $) https://t.co/Nucn2EvhhY
Good morning, America. This was our most read story while you were sleeping. Yen strengthens sharply after dropping past 160 to the dollar https://t.co/3bv5dgHUk7
🇯🇵 Japanese intervention?!!! Big moves in USDJPY around Europen open. Now THIS smells of Japanese intervention from Ministry of Finance through the Bank of Japan! We wont know for sure until there is verbal confirmation or they release their monthly data https://t.co/7a79TrvJoK
Japanese intervention?!!! Big moves in USDJPY at Asia and NY open. Now THIS smells of Japanese intervention from Ministry of Finance through the Bank of Japan! We wont know for sure until there is verbal confirmation or they release their monthly data https://t.co/IyQzstXTYm
From Breakingviews - Breakingviews - Yen intervention is a lost cause worth pursuing https://t.co/hod3gyN9YS https://t.co/hod3gyN9YS
⚠️ FIVE CHARTS ON THE JAPANESE YEN'S DECADES-LONG DROP Full Story → https://t.co/g0KRQrplxt Japan's yen saw a sudden jump on Monday, suggesting the country's authorities may have finally followed through on the FX market intervention warnings they have be making for months. https://t.co/CP8Z2Utn8h
A lot of talk this morning about a Japan fx intervention after the yen dropped to a 34-yr low "Temporary interventions" to maintain financial stability are ok, per @GitaGopinath over the weekend @SecYellen said last week it's ok under "rare" conditions https://t.co/7XjdFV7kan
🚨 𝐓𝐡𝐞 𝐉𝐚𝐩𝐚𝐧𝐞𝐬𝐞 𝐘𝐞𝐧 𝐢𝐬 𝐢𝐦𝐩𝐥𝐨𝐝𝐢𝐧𝐠 🚨 But what does this mean? ⬇️ Decades-long negative interest rate policy in Japan has concluded. This shift may mark the end of the $20 trillion “yen carry trade,” a significant factor in global financial markets.…
Futures Rise, Yen Downgraded To Banana Republic Currency After Another Rollercoaster Session https://t.co/bSAVHnL8Wx
🇯🇵Dow Jones reported that “people familiar with the matter” have confirmed Japanese authorities have intervened to support the yen. Masato Kanda, vice minister of finance for international affairs at Japan’s Finance Ministry told reporters about the Yen, “It is difficult to… https://t.co/YRNFW43l1h
$USDJPY traded 160 for the first in over 30 years before selling off almost 500 pips on reports that the BOJ has intervened in currency markets on Sunday night. $USDJPY set to rise higher now until the FED cuts rates in June-July to provide some relief to Yen. Now 155.
After Overnight Collapse To 34-Year-Lows, Yen Surges In Apparent 'Intervention' https://t.co/T8nsgAT1jD
Yen rebound signals Japanese government intervention, traders say https://t.co/j7PjV1IBwD via @ft
UPDATE: Japan's top currency diplomat reappeared before reporters, and described the current yen movement as speculative, rapid, and abnormal. "The damage such moves inflict on the economy is hard to overlook," he said. https://t.co/axqobCyDh9
It would be an interesting test for the market to go right back to testing 160 again. $jpy https://t.co/WePysfZM4P
Japan's yen strengthened sharply on Monday in a move market participants said pointed to yen-buying intervention from Japanese authorities to stabilize the sliding currency. Read more: https://t.co/bJWEi7yV5a https://t.co/jrXSeazHG8
Japan's economic fragility is at the root of all of its macroeconomic problems. Its chronically weak aggregate demand and high government debt make it very difficult to stop its currency from plummeting. https://t.co/4bSFPFBYGy
Raising interest rates is not going to improve the fate of the Yen, in fact it will depreciate the currency even more. Dumping USTs to support the Yen will only provide temporary and unsustainable relief. Few truly understand FX.
Morning Bid: Yen bounces from 160 per dollar in busy Fed-led week https://t.co/IMhK1Hmhi1 https://t.co/x9XgScmGYS
Pre-market commentary 4/29/2024 jpan hit 160 and then did a huge intervention to "save" their currency. Everyone knee jerked and said oooh wow - let me say that it wont matter. 🧵👇 https://t.co/pMvrMOWIx2
While the local media is reporting fx intervention, the Japanese authorities are yet to confirm. Pending such confirmation, including the amount, it is notable that the exchange rate snapback has currently not extended beyond 155 on a low liquidity day due to a local holiday.… https://t.co/h6rrGanjoz
Yen intervention is a lost cause worth pursuing - https://t.co/beJtSRdOfD - @ugalani https://t.co/MqWR7dpl7A
JUST IN: 🇯🇵JAPAN INTERVENED TO STOP YEN DUMP vs USD: DJ Devs did something... https://t.co/dxvES8ltBS
JUST IN: 🇯🇵JAPAN INTERVENED TO STOP YEN DUMP vs USD: DJ https://t.co/EtAKKFpuu8
Fedspeak is turning hawkish, Musk makes a successful trip to China and Japan’s yen goes wild during a holiday. Here’s what people are talking about. https://t.co/iZJead1EP0
Japan's currency diplomat calls yen's fall 'excessive', speculative https://t.co/cF5hgEB2XM
With the yen repeatedly declining to fresh historic lows against the U.S. dollar, speculation has been rife that Japan could intervene in the currency market at any time. https://t.co/poyXPwT0sE
When do you think $JPY will trade at 160 vs $USD again?
🇯🇵🇺🇸HUGE volatility for Japan's Yen vs US dollar this morning. The world's 3rd biggest currency is acting like a meme coin... https://t.co/Z8m7xz2yC1
*JAPAN'S KANDA REFRAINS FROM SAYING IF INTERVENED IN FX MARKET *JAPAN'S KANDA: WILL DISCLOSE IF FX INTERVENTION AT END OF MAY This is an interesting tease. The reason for this is that they report FX intervention operations on a delayed basis which means the last day to get
JAPAN TOP CURRENCY DIPLOMAT KANDA: I DON'T HAVE A SPECIFIC LEVEL IN MIND ABOUT AN APPROPRIATE FOREX LEVEL.
JAPAN TOP CURRENCY DIPLOMAT KANDA: SPECULATIVE, RAPID AND ABNORMAL FX MOVES HAVE HAD A BAD IMPACT ON THE ECONOMY, SO ARE UNACCEPTABLE.
JAPAN TOP CURRENCY DIPLOMAT KANDA: WE WILL CONTINUE TO TAKE APPROPRIATE ACTION AGAINST EXCESSIVE FOREX MOVES.
JAPAN TOP CURRENCY DIPLOMAT KANDA: NO COMMENT ON WHETHER THERE WAS FX INTERVENTION.
In the foreign exchange market on Monday, the yen briefly fell below the 160-yen mark against the dollar, marking its lowest level in about 34 years since 1990. #Japan https://t.co/luRDEPFnvW
Small problem here; the more they dump without a big change into (real) tightening monetary policy the more the intrinsic value of $JPY goes down as I explained in this article: https://t.co/oIQQbmu0pK 🥲 https://t.co/EEccq9iUzS
Russian gas cut off from Japan. Yen in free-fall to maintain competitiveness. BRICS bloc buying up insane amounts of gold. Yen turning to funny money vis-a-vis gold. The new global system is taking shape before our eyes. 🇯🇵🌏 https://t.co/lY8Z1EhKq1
> This raises the question of what else Japan can do to stabilize its currency, other than interest rate hikes. Unfortunately, there’s really only one other option, and that’s capital controls. https://t.co/TFB1ddhGr3
The yen rebounded after reaching the weakest level since 1990 https://t.co/XiTjMgtDwA
Japanese Yen fluctuates like the currency of a banana republic by 3%. Manic swings ruin Japan holiday. Trading volumes surged to around five times more. Yen has rebounded strongly after sliding past 160 per Dollar earlier. https://t.co/hhnqNq5Ow0 https://t.co/rtSoE8p3cY
UPDATE: Japan's top currency diplomat declines to comment on yen's surge Yen strengthens sharply after dropping past 160 to the dollar https://t.co/Ga3GO0agxb https://t.co/SfG61yscwz
From Melbourne to Tokyo, here's how market participants were scrambling to trade and make sense of Japan’s embattled currency swings during one of its most volatile days in recent memory https://t.co/zmLMiDmnjE
Japan is in danger of a full-blown currency crisis. If the yen doesn't stop plummeting soon, it may soon face some very painful options. https://t.co/4bSFPFCww6
Second #BOJ intervention dump... ⚠️ If for whatever reason they are trying to target and hold 155 for $JPY I cannot phatom how many $USD reserves they need to burn to bring it there and then hold it at that level Narrator: when people are desperate they lose rationality... https://t.co/dwoxshmSRQ https://t.co/gcQaHjZASF
Yen rebounds after breaching fresh 34-year low amid intervention rumors https://t.co/X3E9nT7Sq6
The yen swung in holiday-thinned market conditions, punching through ¥160 per dollar to touch its weakest in 34 years before erasing all its losses for the day and rebounding strongly. https://t.co/Z6A15BBNYg
The sudden rebound in the yen sparked speculation Japanese officials had intervened after the currency earlier slid past the closely-watched 160-per-dollar level. https://t.co/pGjHZxTUbm
JUST IN 🚨: Japan's Top Currency Official, Masato Kanda, declined to answer whether the Bank of Japan had intervened in the FX market following a sharp gain against the U.S. Dollar https://t.co/hzEVYK21b6
USD/JPY cross vacillating like a penny stock https://t.co/rSL7F9uXSW
EXPLAINER: The yen tumbled past 160 per dollar for the first time since 1990. Here's why the yen's so weak right now - and what that means for Japan https://t.co/YfklyXSiod
Japan may have conducted intervention to stem yen's plunge: dealers https://t.co/toFyuNKIkb
Japan’s top currency official declined to comment on whether Tokyo had intervened in the currency market Monday following a sharp move in the market that sliced 2% off the dollar-yen exchange rate. https://t.co/5BXXgbXe8r
155-160 per US dollar: That’s the range for the Yen so far today in what has been a wild trading session that is fueling talk on fx intervention (not confirmed by the authorities, at least as yet). #economy #markets #currency #Japan #econtwitter https://t.co/r1j81UGCkI
USDJPY experienced a 3.2% intraday range. 159.10 is an extension target, and 160 is a psychological resistance. It is too early to call a trend reversal, but a pause is likely, particularly given the Fintwit parabolic negative sentiment tweets and podcasts on Yen. https://t.co/jsBjiusaSD
💹The yen doesn’t know where to stop. Wicking above a 160 USD/JPY on the Tokyo market open. Rumors of #BoJ intervening? Whatever the move, it’s yours to take at https://t.co/lLrWB5eRfL ▶️1000x leverage on $USD / $JPY 🇯🇵72.2 million dollars of available OI on either side for… https://t.co/I9my2pg21z
Something’s going on with the yen. USD/JPY just swung a full 3 yen down reversing the sharp move on Friday. Speculation in the market is Japan did intervene when the exchange rate hit 160. Wild Monday https://t.co/hrn5BuEA1P
BREAKING UPDATE: Yen strengthens sharply after dropping past 160 to the dollar https://t.co/Fu0HLFAroA
U.S. Dollar Index $DXY now falling off right as the Japanese Yen mounts a huge recovery https://t.co/MM8K7KPcj1
$JPY ‘bout to Bart https://t.co/1sLgV16Ari
Hence the completely asinine $JPY intervention today……. https://t.co/4pUM9Udpqd https://t.co/0RqmSvSEzg
Something’s going on with the yen. USD/JPY just swung a full 3 yen down reversing the sharp move on Friday. Wild Monday https://t.co/h8gPGvkFti
Something’s going on with the yen. USD/JPY just swing a full 3 yen down reversing the sharp move on Friday. Wild Monday https://t.co/pPagTMCo9R
The Japanese yen continues falling and I don't see it stopping anytime soon. It's an odd feeling because I really benefit from the yen being this weak since I live in Japan and earn in USD. But, I feel bad for the people here. Makes it a lot harder for them to travel to other… https://t.co/QEAhB6V9W9
Japanese Yen chart is preposterous 👀 https://t.co/AFJMs9IHi4
Morning Bid: The yen's mysterious move https://t.co/5nWsqFhuLC https://t.co/Lnlrmhg7Kv
JUST IN 🚨: Huge Movement in the Japanese Yen Something big is happening in the Japanese Yen right now as it surges against the U.S. Dollar in the last few minutes https://t.co/VKVwofXOJr
Dollar Yen - Largest Candle since Q4 2022 *Nothing to see here, just the currency of our planet's fourth-largest economy trading like an emerging market. https://t.co/8w2ysM3A6e
The #BOJ is exactly doing what they are not supposed to do, dumping reserves without any change in monetary policy, effectively exacerbating their problems even more for just a short term relief…. 🤦🏻♂️ https://t.co/vxXze6OqOs
💹The yen doesn’t know where to stop. Wicking above a 160 USD/JPY on the Tokyo market open. Rumors of #BoJ intervening? Whatever the move, it’s yours to take at https://t.co/lLrWB5eRfL ▶️1500x leverage on $USD / $JPY 🇯🇵72.2 million dollars of available OI on either side for… https://t.co/fI1zpokkmg
This is strange: At 9:30 PM ET, the Japanese Yen weakened to 160 against the US Dollar for the first time since 1990. Exactly 2.5 hours after the headlines came out, the ratio just crashed from 160.20 to 156.50. That's a ~2.5% swing in one of the biggest currencies in the… https://t.co/yX4YLX7Veh
This is strange: At 9:30 PM ET, the Japanese Yen weakened to 160 against the US Dollar for the first time since 1990, it crashed. Exactly 2.5 hours after the headlines came out, the ratio just dropped from 160.20 to 156.50. That's a ~2.5% swing in one of the biggest currencies… https://t.co/9to6hfAacA
The yen swung in holiday-thinned market conditions, punching through 160 per dollar to touch the weakest level in 34 years before erasing all its losses for the day to rebound strongly https://t.co/1oNhqbwatH
🇯🇵 Japan Yen erases loss after touching the 160 mark against the USD, $USDJPY now down 0.66% to 157.30. https://t.co/AEFJfEKKS0
Yen on the move now
🍿POPCORN ALERT🍿 Massive $JPY intervention ongoing now! What a show 🍿 https://t.co/ySeWxlY9oB https://t.co/oofdRIGRv0
Yen's now at a record low against the Euro https://t.co/djPfEKnSHE
The yen slides past 160 per US dollar for the first time since 1990. Claudio Piron, Bank of America co-head of Asia FX & rates strategy says, it's a function on fundamentals https://t.co/wgNSCihbgL https://t.co/CKpazZoUEt
The Japanese yen slides past 160 against the dollar for the first time since 1990 The yen has lost nearly 25% of its purchasing power against gold over the past six months.
The Japanese Yen looks absolutely tragic right here. Might want to sell Yen for Bitcoin, just in case it catches on. #BTCJPY https://t.co/daU20v8Rpy
'FX Vigilantes' Strike - Yen Suddenly Crashes To April 1990 Lows Against The Dollar https://t.co/T8nsgAT1jD
🇯🇵 Japanese Yen per US Dollar 1st of January, 2021: 103 Now: 160
Yen drops to 160 level vs dollar, new 34-yr low in volatile trading https://t.co/tvWWu9O6WV
Is BOJ now dumping its crypto holdings to fund intervention
EXPLAINER: The yen just tumbled past 160 per dollar for the first time since 1990. Here's why the yen's so weak right now — and what that means for Japan https://t.co/sRq60xXUMc
EXPLAINER: The yen just tumbled past 160 per dollar for the first time since 1990. Here's why the yen's so weak right now - and what that means for Japan https://t.co/AIwhx09WGA
#NewsAlert | Dollar surges past fresh 34-year high of 160 yen in morning trade | reported by news agency AFP #NDTVWorld
Let’s see how this plays in $DXY Japanese yen weakens to 160 against the U.S. dollar for the first time since 1990 @CNBC https://t.co/M67Wqic8iz
Yen Plunge Driven by Algos as Option Barriers Targeted: Traders Meanwhile the BOJ https://t.co/QmqVwzpitM
The yen briefly hit ¥160 against the dollar Monday morning, as the Japanese currency continues to fall against other major currencies, hitting its lowest level since April 1990. https://t.co/y1aJeuIPcL
Japanese yen continues lower... now at 159/USD https://t.co/SwpyskhoNu
Well… we knew it was going to hit 160, now let’s see how far $JPY will run past 160 as soon as the new #BOJ intervention is digested As I said in this article (https://t.co/oIQQbmu0pK) $JPY “fair value” is 298 vs $USD believe it or not 🤷🏻♂️ https://t.co/ninWBAdWNv
#JustDarioDaily 🚨 EXPLAINING AND SIMPLIFYING THE $JPY (COUNTERINTUITIVE) “DOOM LOOP” 🚨 #Japan $USD #stocks #bonds Article 👇🏻 https://t.co/5q99q3Rdub
#JustDarioDaily 🚨 EXPLAINING AND SIMPLIFYING THE $JPY (COUNTERINTUITIVE) “DOOM LOOP” 🚨 #Japan $USD #stocks #bonds https://t.co/5q99q3Rdub
Japanese yen weakens to 160 against the U.S. dollar for the first time since 1990: CNBC
The yen has tumbled well past levels touted as red lines for Japan and at a pace that has traders asking when authorities might start buying the currency to support it — and why they haven’t done so already. https://t.co/J2qVopUzQA
The Japanese have lost 6% of their purchasing power in the last 3 weeks. 💴 🇯🇵 🔥
“Yen slides past 160 for first time since 1990 on Monday” via @business https://t.co/fsFKZTGAOd
The Yen is about to break 160… https://t.co/1rWqgVczwy
The Yen at new lows vs dollar, -16% 1yr as carry trade enters hyperdrive $FXY https://t.co/xLvJGuwlwa
🇯🇵 $USDJPY > 160, for the first time since 1990.
Did the BOJ just fat finger intervention to WEAKEN the yen? WTF are these idiots doing
The spectacular currency implosion of the world's 3rd biggest economy continues.
Looks like the yen’s trading slightly weak… CHF/JPY - Jan 1971 USD/JPY - May 1990 CNY/JPY - Jan 1993 NZD/JPY - July 2007 CAD/JPY - Dec 2007 EUR/JPY - August 2008 GBP/JPY - September 2008 AUD/JPY - April 2013 https://t.co/GjUc4OSHON
Japanese Yen's Rapid Decline Triggers Talk of Market Intervention — #Economics #FiatCurrency https://t.co/rtJ5pqQk86
#Yen starts unch to the week after last week's mini-crash that brought the yen to its weakest level against the dollar in 34yrs. https://t.co/mwT26cyYMI
Morning Bid: Helter-skelter yen, US tech tonic https://t.co/bg70QQdKDd https://t.co/F5698pw0S4
Japanese corporates trying to deal and cope with the plunging JPY https://t.co/8MXClAjVgL
Japan is in a tricky spot. They printed way too much money. Solution would be to sell their dollar reserves, but… There’s a certain country that has bases in theirs which wouldn’t be so happy if they did that. https://t.co/VkuwxGD7e4
Yen is sort of a collapsed/collapsing currency but it doesn't seem to cause a dramatic crisis. Very weird funny money, constantly collapsing in value against gold, zero interest rates, etc. Not sure anyone really grasps how it works. https://t.co/KHMQiOLj4M
The Yen is in free-fall and markets wonder if there's a red line. There isn't. The red line that exists is on 10-year JGB yield, which can't rise as this would cause a fiscal crisis. Japan can't simultaneously stabilize Yen and cap yields. Japan's debt put it in a terrible place. https://t.co/27FanuhCiF
Japan has always been a favorite talking point for the #MMT crowd, who claim Japan's huge debt load is totally fine. It isn't. Japan is in a currency crisis because its debt forces the BoJ to keep interest rates pinned. A huge warning sign for debt aficionados in the Euro zone... https://t.co/mnO6RUQgnq
With Yellen visiting Chayna and no bothers about FX interventions from Japan, how many handles will they drop DXY next week? https://t.co/usEm8CJzDS
Japanese Government, BOJ Refrain from Intervening in Foreign Exchange Markets Despite Record Fall in Yen’s value https://t.co/bqsfJAxuKR
Traders are asking when Japanese authorities will start buying the yen as it falls past levels touted as red lines for the country https://t.co/q9Jteu2iM9
As the yen continues to fall against other major currencies, the focus is on when the Japanese government and the Bank of Japan might intervene in the currency market to support the yen. https://t.co/Cw789r4oKS
🇯🇵 Japanese Yen per US Dollar 1st of January, 2021: 103 Now: 158.3
The Yen is falling (-25% vs USD) -> So what? 1. Only 3% of Japan's Debt is payable in foreign currencies-> No problem but 2. Weak Yen is a BURDEN on households and businesses -> all imported goods are more expensive (ex. Oil) in an already weak economy. 1/3 https://t.co/rgd1JN2nge