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Japan is chasing its tail on yen intervention

Channel News Asia LogoChannel News Asia6d ago

Japan is chasing its tail on yen intervention - Channel News Asia

Quick Summary:

(Corrects to paraphrase paragraph 8 comments)By Vidya RanganathanSINGAPORE : As the Bank of Japan steps into currency markets for the first time in decades to defend a battered yen, it is running into numerous obstacles, chiefly its own stubborn commitment to ultra-easy monetary settings.

"Intervention success is not measured in days but rather decades," Malcolm wrote, pointing to how Japanese authorities had last bought about 150 billion worth of dollars at close to 75 yen in 2011.

UBS strategist James Malcolm reckons the intervention may be a concerted campaign lasting many months, given how much speculative positioning there is against the yen and Japan's war chest of nearly $1.3 trillion in FX reserves.


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Article Details

Category: Economy

Topics: Yields Policy Rates Markets Currency Points Japanese Time Bank Intervention Japan

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-09-23, 12:57:28

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Reading Time: 5 minutes read

Article Length: 768 words

Coverage Area: Singapore

Availability: Desktop Web, Mobile Web

News ID: 488182

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About Channel News Asia

Channel News Asia Logo

Main Topics: Economy

Official Website: channelnewsasia.com

Update Frequency: 59 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 1h ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #27

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