US Pressure Fuels Continued Yen Strengthening
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4 Articles
New foreign exchange market interventions and central bank messages about accelerated interest rate hikes are signaling to investors that the yen carry trade strategy that has provided the world with cheap money for 30 years is becoming increasingly limited. The search for balance in the Japanese economy has forced many to make a decision, and recent data shows that investors already have a new target.
CryptoTendence During Friday's day, the yen recovered partially due to the possibility of further adjustments of rates by the Bank of Japan. The entry The yen is partially recovered due to possible continuous adjustments in the Japanese rate was first published in CryptoTendence.
The yen is appreciating, reaching around 155 yen to the dollar on the 3rd. The yen has risen 2.2% this week, its largest weekly gain since late July. The market is betting on a 75% probability of a Bank of Japan interest rate hike in September. Speaking about the yen and the Japanese economy, Hsieh Chin-ho, chairman of Wealth Magazine, said that a yen value of 150-160 is beneficial to Japanese exports. Japan is currently entering an era of infla…
The yen briefly hit the 155 yen level against the dollar in the foreign exchange market. The yen surged to the low 155 yen range at one point. Market participants remain wary of government and Bank of Japan intervention to buy yen. Vice Minister of Finance Mimura: We remain on high alert, and our stance remains unchanged. The appreciation of the yen is due to increased expectations that the Bank of Japan will accelerate its interest rate hikes. …
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