People Standing outside of a money exchanger, you can see the rates. Japanese The yen and foreign currencies along a central city street Tokyo On, April 29, 2024. 

Richard A. Brooks | Afp | Getty Images

The dollar The pound lost around 2% to the Japanese yen On, Thursday As the market was suddenly shocked by new inflation U.S. statistics.

The At around 3 p.m., the yen was trading at 158.55 per dollar. London The price of the stock was trading around 161.52 at one point in the session. It According to Reuters.

The Dollar rose as the U.S. reacted to its lowest CPI (consumer price index) reading More than four years. Some Currency experts highlighted U.S. data in the yen’s move. Kit JuckesGlobal head of Foreign Exchange Strategy at Societe GeneraleCNBC was informed by email that the “driver of the yen rally is big shorts and a surprise in CPI.” Shorting Bets on the fall of an asset’s price.

But It comes at a moment when traders are on alert for further yen interventions from Japanese As they try to support its failing currency.

Marc Ostwald, is a chief economist and global strategist at ADM Investor ServicesThere was no concrete proof of the intervention, but the dollar’s broad sell-off looked to be the cause. “triggered stop loss triggers above all in JPY, with a strong suspicion that the MoF [Ministry of Finance] may well have used the opportunity to intervene modestly.”

Stop Market orders are triggered if a specific asset price is reached.

Masato KandaThe vice-minister for finance and international affairs Ministry The following are some examples of how to use Finance. Jiji Press That he wasn’t in a position comment on any possible intervention. Un spokesperson from the ministry was not immediately available to comment.

Back The late May, Japan confirmed its first currency intervention Since 2022, the government has been on a spending spree of $62 billion. The Minister stated that Japan Between 2009 and 2012, the Japanese government spent 62.25 billion dollars on currency interventions. April 26. May 29.

This Timeline coincided with the sharp rise in the Japanese Currency in the Weeks Prior The The yen plunged to its lowest level in 34 years, 160.03 per dollar. April 29. It Later, the price jumped to 156 levels in that same session, fueling speculation about a possible intervention by Japanese authorities.

The Since the yen’s inception, it has been fighting against sustained pressure. Bank The following are some examples of how to use Japan The United States ended its negative interest rate policy in March.

Japanese Finance Minister Shunichi Suzuki has backed The need for intervention if currency movements start to have a negative impact on households and businesses. He The ministry declined to comment when asked at the time whether it had intervened to prop up the Japanese yen.

Japan Last intervened in stabilizing the currency October The yen will reach a low in 2022 of around 152 yen per dollar. Authorities Three times in that year, the government intervened to stabilize the currency.

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