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Japan intervenes to shore up yen as ‘reverse currency wars’ deepen

Financial Times LogoFinancial Times1w ago

Japan intervenes to shore up yen as ‘reverse currency wars’ deepen - Financial Times

Quick Summary:

In the currency’s most volatile day since 2016, it had previously hit a low of ¥145.89 after the Bank of Japan signalled it would not change its forward guidance about interest rates and stuck to its ultra-accommodative policy.

Norway’s central bank also pushed up rates by 0.5 percentage points, indicating smaller increases would follow until early next year.

The latest moves, which included rate rises in the UK, Switzerland and Norway, came a day after the US Federal Reserve drove the dollar higher by announcing its third consecutive 0.75 percentage point rate rise on Wednesday.


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Article Details

Author / Journalist: Kana Inagaki

Category: MarketsFinanceInvesting

Topics: Dollar Rate Policy Percentage Rates Japan Central Financial Banks Bank Cent

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-09-22, 17:46:43

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Reading Time: 6 minutes read

Article Length: 962 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 475562

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About Financial Times

Financial Times Logo

Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 18 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 9h ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

News Language: English

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Publisher ID: #3

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