Trump Risks Japan's Wrath with Another Pearl Harbour Joke
The dollar fell as the two governments signaled further joint intervention to curb yen weakness driven by a wide interest-rate gap.
- On Sunday, President Donald Trump and Japanese Finance Minister Satsuki Katayama confirmed coordinated U.S.-Japan currency intervention to support the yen, with Trump describing the move as a "signal of friendship" while referencing Pearl Harbor.
- The intervention follows the yen's slide above 163 against the dollar, driven by wide yield differentials between the Federal Reserve's 3.5%–3.75% rate and the Bank of Japan's 1% benchmark maintaining pressure on Tokyo.
- Early Monday, the dollar fell to nearly 155.20 yen following the announcement, a move Shigeto Nagai of Oxford Economics described as a "low-cost" way for Washington to assist a key ally.
- Trump's repeated Pearl Harbor references drew fresh social-media condemnation, yet Katayama stated, "We will not hesitate to conduct further joint intervention," signaling readiness to maintain stability despite diplomatic friction.
- Stephen Innes of SPI Asset Management noted the Bank of Japan is moving slowly, yet the intervention could provide a "slightly stronger path" for the yen for the remainder of the year.
15 Articles
15 Articles
The US is supporting the Yen together with Japan. The question is: Why? Of course: Japan's head of government can use domestic and fiscal aid well at the moment. The most important answers.
The story seen by the President of the United States
Sydney Morning Herald
The real reason Trump just rushed to help Japan
Tactless as ever, Donald Trump invoked the attack on Pearl Harbour as the US jumped in to help boost Japan’s currency. What’s more compelling is why America made the move.
Donald Trump confirmed the financial intervention to support the Japanese yen, weakened after reaching its lowest level since 1968.The president of the United States assured that the measure responds to the good relationship between the two countries and called it “a sign of friendship,” although he recalled “the exception of Pearl Harbor.” “Japan has been very good with us, with the exception of Pearl Harbor” Donald Trump, President of the Unit…
'Japan’s been very good to us, with the exception, of course, of Pearl Harbor': Trump awkwardly comes to the Yen's rescue
The dollar cratered from a 40-year high after the rarest kind of market move: a joint intervention, dressed up by Trump as a favor between friends.
Coverage Details
Bias Distribution
- 75% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
