On the 11th, the yen rose rapidly against the dollar in the New York foreign exchange market, briefly reaching the mid-157 yen range to the dollar, and a government official revealed that the Japanese government and the Bank of Japan intervened in the foreign exchange market by buying yen and selling dollars. At times, the yen strengthened and the dollar weakened by about 4 yen compared to the previous day. The June Consumer Price Index (CPI) announced by the US Department of Labor fell short of market expectations, raising hopes for an early interest rate cut by the Federal Reserve Board (FRB), and the government and the Bank of Japan’s intervention is believed to have added to the yen’s rapid appreciation. [Kato Mihoko, Washington Okubo Wataru] Mainichi Shimbun
>>1 Other currencies are also rising against the dollar, so it’s hard to tell if they intervened. We’ll know if this article was a false report when the foreign exchange reserves are announced next month.
>>1 Intervention to sell dollars and buy yen? Don’t melt the foreign currency, you traitorous finance bureaucrats. Foreign currency is more important than our own currency. Don’t keep struggling like this forever, cut taxes and increase domestic demand to bring the exchange rate to a desirable level.
When should I convert my $60,000 foreign currency deposit back into Japanese yen? I panicked and converted $40,000 for 138 yen, so I don’t want to make the same mistake this time. Well, I bought the dollars for 105 yen, so I haven’t lost anything, though.
Thanks to my short position, I now have an unrealized profit of about 16 million yen. Thank you, Bank of Japan. I wonder when I should take my profits.
If it goes well, it could go from over 150 yen to under 130 yen.
There could be a sudden rise in the yen like in 2022, but the ammunition is limited.
This is the last big gamble of that alien’s term.
He bet on a scenario where the 180,000 shares he sold, which had accumulated to the largest extent in history, would be burned away by the narrowing of the interest rate differential.
Government and Bank of Japan intervene in foreign exchange rate, yen temporarily in the mid-157 yen range Scoop 2024/7/12 00:26 (Last updated 7/12 00:53) This time they made it public. If they continue to allow speculators to do as they please, there will be no turning point until the 200 yen range before the Plaza Accord They must have decided to hold on to the line.
>>29 Looking at the price movements, it seems that speculators predicted some intervention. They were spreading information that the yen would be sold forever, waiting for idiots who believed it to buy it at the 160 yen level.
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