Washington Bought the Japanese Yen Again without Meaning To

Japan’s yen is falling yet again. What could Washington and Tokyo do next?

Another US-Japan intervention may be needed to prop up the Japanese currency, as a US Treasury rout fuels the yen carry trade, analysts say.

Washington bought the Japanese Yen again without meaning to

USD/JPY closed Wednesday 0.92% lower just above 158.00, the largest single-session decline since the early-August intervention, and Tokyo did not lift a finger for it. The Yen’s best session since Tokyo last spent money defending it was delivered instead by the United States Treasury, which was not aiming at the Yen and never mentioned it. The pair ended the session sitting on its 200-day Exponential Moving Average (EMA). The Yen trades the Amer…

Yen Gives Back Half Of Record Intervention Gains As Markets Test Tokyo's Resolve

BitcoinWorld Yen Gives Back Half of Record Intervention Gains as Markets Test Tokyo’s Resolve The Japanese yen has surrendered roughly half of the gains it made following Tokyo’s record-breaking intervention in the foreign exchange market, as traders quickly test the government’s commitment to stemming the currency’s decline. Why the Yen’s Pullback Matters The yen’s rapid reversal highlights the difficulty authorities face in defending a curren…