Explainer: What are Japan's tactics, based on latest suspected intervention to prop up the yen?

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The Straits Times 4h ago

Explainer: What are Japan's tactics, based on latest suspected intervention to prop up the yen? - The Straits Times

Quick Summary:

The yen fell to a 38-year low of 161.96 per dollar on July 3, before last week’s suspected bout of intervention pushed it back below the 160 line.

Markets are divided on how Tokyo’s latest foray into the market could affect the Bank of Japan’s (BOJ) decision on whether to raise interest rates at its policy meeting on July 30-31.

Unlike past episodes of intervention that typically came in the midst of sharp declines in the yen, the suspected intervention on July 11 came when the dollar was already sliding in reaction to weak US inflation data.