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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: bull_dozer who wrote (192012)	9/22/2022 4:52:55 AM
From: TobagoJack	Read Replies (1) \| Respond to of 217825

Re <<Japan Can Intervene>> intervention started this day bloomberg.com Japan Intervenes to Buoy Sliding Yen for First Time Since 1998 Chikako Mogi 22 September 2022, 16:22 GMT+8 Japan intervened in the foreign-exchange market for the first time since 1998 as yen’s losses deepened amid the nation’s monetary policy divergence with the US. Top currency official Masato Kanda said on Thursday that the nation had intervened in the currency market as the moves were sudden and one-sided. The yen strengthened 1.1% to 142.48 per dollar. That’s after it weakened past 145 per dollar for the first time since 1998 as the Bank of Japan maintained its ultra low interest rates following the Federal Reserve’s decision a day before to raise its key rate by 75 basis points. Japanese authorities have been stepping up verbal warnings in recent weeks. Kanda said earlier on Thursday that the government was ready to take action at any time and could carry out stealth intervention. The Bank of Japan conducted so-called rate check in the foreign-exchange market this month, a move widely seen as preceding the direct intervention. Currency intervention is an extraordinary move for a country that’s long been criticized by trading partners for tolerating or even encouraging a weak currency to benefit its exporters. The last time Japan strengthened the yen with direct intervention was during the Asian financial crisis in 1998, when the exchange rate reached around 146 and threatened a fragile economy. It had also previously intervened at levels around 130 to weaken the currency in 2011. The yen has tumbled about 20% against the greenback this year, the worst performer among Group-of-10 currencies, with the BOJ keeping interest rates pinned to the floor even as the Federal Reserve hikes aggressively in an attempt to contain sky-high inflation. Japanese companies and households have become increasingly vocal about the negative effects of the weaker yen, as input and energy costs soar. A further slide will put pressure on the consensus between a central bank determined to stoke inflation and a government desperate to avoid a cost-of-living crisis. — With assistance by Masaki Kondo