Wall Street Journal (August 11)
“It was obvious when Tokyo and Washington intervened recently to stabilize the value of the yen that the intervention wouldn’t stick, and sure enough. The Japanese currency has commenced a new downward march, so perhaps it’s time for a new plan…. Absent fundamental policy changes in Japan, no intervention from anyone will prop up the yen indefinitely.”
Tags: Currency, Downward march, Fundamental, Intervention, Japan, New plan, Obvious, Policy changes, Prop up, Stabilize, Tokyo, Value, Washington, Yen
MarketWatch (January 26)
“The U.S. dollar took another hit on Monday, weakening to its lowest levels in four months, as talk of a coordinated intervention to prop up the competing Japanese yen intensified. A stronger Japanese currency could end up translating into trouble for U.S. stocks, as it did on Aug. 5, 2024, when a sharp unwinding of the yen carry trade was blamed for a selloff in global equities.”
Tags: Blamed, Carry trade, Coordinated intervention, Currency, Dollar, Japan, Prop up, Selloff, Stocks, U.S., Unwinding, Weakening, Yen
Market Insider (September 30)
“Japan and Korea have dumped billions of dollars into the foreign exchange market to prop up” their currencies. Nevertheless, “the dollar has surged 26% against the yen and has risen 21% versus the won.” The yen and won are hardly unique. “Both developed and emerging market economies, have slumped against the dollar,” but both currencies “have also been hurt by trade deficit concerns” as their “economies are importers of oil.”
Tags: Currencies, Developed, Dollars, Economies, Emerging, Forex, Importers, Japan, Korea, Market, Oil, Prop up, Slumped, Surged, Trade deficit, Won, Yen
