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Yen Stubbornly Weak as Interventions and BOJ Hike Offer Limited Relief

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Source: CNBC
Yen Stubbornly Weak as Interventions and BOJ Hike Offer Limited Relief
Photo: CNBC
TL;DR

Despite a large FX intervention and a BOJ rate hike, the yen remains near 160 per dollar due to a wide US–Japan rate gap, persistent carry trades, and reflationary politics; near-term intervention is likely, but longer-term factors like energy costs and capital inflows could eventually support the currency.

Topics:businessmarkets#bank-of-japan#carry-trade#foreign-exchange-intervention#markets#us-japan-rate-differential#yen
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  1. Why Japan's $70 billion-plus intervention and a rate hike didn't prop up the yen more  CNBC
  2. Yen slides past 161 against the dollar, nearing 40-year low and reviving intervention bets  CNBC
  3. Yen Slides to Weakest Level Versus Dollar Since July 2024  Bloomberg.com
  4. Yen teeters near 40-year low as BOJ hike fails to stem rout  Reuters
  5. Yen hits 23-month low and Nikkei 225 breaks 71,000 for first time  The Japan Times

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