U.S.-Japan Intervention Revives Yen Carry Trade Fears for Bitcoin
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U.S.-Japan intervention revives yen carry trade fears for bitcoin
Coordinated action sent the yen sharply higher, but bitcoin’s recent correlation suggests U.S. dollar strength, rather than the carry trade, may be the bigger risk. U.S. Treasury Secretary Scott Bessent confirmed Sunday that the U.S. joined Japan in coordinated foreign exchange intervention last Friday, calling it a move to counter “disorderly yen movements.” The USD/JPY pair almost hit 164 its weakest level since 1986 before snapping back to 15…
USD/JPY Extends Gains As Yen Gives Back Intervention-Fueled Rally
BitcoinWorld USD/JPY Extends Gains as Yen Gives Back Intervention-Fueled Rally The US dollar climbed against the Japanese yen on Tuesday, with USD/JPY trading in positive territory as the yen surrendered gains that had followed recent intervention efforts by Japanese authorities. As of the latest session, the pair hovered near 155.20, reflecting renewed dollar strength and fading momentum from Tokyo’s market actions. What Drove the Yen’s Revers…
The currency lost half of its gains, the exchange rate weakening to 159 yen per dollar.
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