#YenPasses160PerDollarToOneMonthLow
🇯🇵 The yen is back at the danger zone.
USD/JPY pushed above 160, with the yen touching around 160.20 on August 28 — its weakest level in roughly a month. (Reuters)
What makes this move interesting is how quickly the yen has given back the gains from Japan’s recent currency intervention. After briefly strengthening following the intervention, it’s now drifting back toward the levels that previously triggered serious concern from Tokyo.
The latest pressure is coming from a stronger dollar and renewed expectations around U.S. rates after Kevin Warsh’s comments on inflation. (MarketWatch)
And Japan isn’t staying quiet.
Officials have been signaling that they’re prepared to act again if the yen’s decline becomes excessive. That matters because Japan already spent a record ¥15.4 trillion ($96.5B) supporting the currency between July 30 and August 26. (Reuters)
So now the big question is:
Does USD/JPY break cleanly above 160, or does Japan step in and defend the level again? 👀
$GOOGLB $CASH.US $PUMP
#Yen #USDJPY #Japan #Forex #Markets
🇯🇵 The yen is back at the danger zone.
USD/JPY pushed above 160, with the yen touching around 160.20 on August 28 — its weakest level in roughly a month. (Reuters)
What makes this move interesting is how quickly the yen has given back the gains from Japan’s recent currency intervention. After briefly strengthening following the intervention, it’s now drifting back toward the levels that previously triggered serious concern from Tokyo.
The latest pressure is coming from a stronger dollar and renewed expectations around U.S. rates after Kevin Warsh’s comments on inflation. (MarketWatch)
And Japan isn’t staying quiet.
Officials have been signaling that they’re prepared to act again if the yen’s decline becomes excessive. That matters because Japan already spent a record ¥15.4 trillion ($96.5B) supporting the currency between July 30 and August 26. (Reuters)
So now the big question is:
Does USD/JPY break cleanly above 160, or does Japan step in and defend the level again? 👀
$GOOGLB $CASH.US $PUMP
#Yen #USDJPY #Japan #Forex #Markets