* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, August 8, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Themed Entertainment Design – Purdue Polytechnic

    Innovative Themed Entertainment Design: Creating Immersive Experiences

    Rachael Leigh Cook and Brandon Routh ‘Happy to Have Found Each Other’ Following Respective Divorces – yahoo.com

    Rachael Leigh Cook and Brandon Routh ‘Happy to Have Found Each Other’ Following Respective Divorces – yahoo.com

    ‘Billie Jean’ – Hyde Park Herald

    The Enduring Magic Behind ‘Billie Jean’ Revealed

    Hank Hill returns to a changed world in new ‘King of the Hill’ episodes – New Haven Register

    Hank Hill Navigates a Bold New World in Thrilling New ‘King of the Hill’ Episodes

    Exclusive | Fox Takes Stake in IndyCar Owner Penske Entertainment – The Wall Street Journal

    Exclusive | Fox Takes Stake in IndyCar Owner Penske Entertainment – The Wall Street Journal

    Go-to entertainment: why gaming was made for the toilet – The Guardian

    Why Gaming Is the Ultimate Way to Pass Time in the Bathroom

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    BlackSky Technology Inc. (BKSY) Reports Q2 Loss, Lags Revenue Estimates – Yahoo Finance

    BlackSky Technology Inc. Reports Q2 Loss, Misses Revenue Targets

    Improved Technology Access: A Key to Closing the Healthcare Gap for African Americans – BIOENGINEER.ORG

    LMI Expands Technology Org, Appoints New Leaders – GovCon Wire

    LMI Expands Technology Team with Dynamic New Leadership Appointments

    Midland Innovation and Technology Charter School closing down – CBS News

    Midland Innovation and Technology Charter School Closes Permanently

    Future Trends In HR Technology – Dataconomy

    Future Trends In HR Technology – Dataconomy

    Nasdaq-listed Verb Technology to build $558 million TON treasury, rebrand as TON Strategy Co. – The Block

    Nasdaq-Listed Verb Technology to Build $558 Million TON Treasury and Rebrand as TON Strategy Co

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Themed Entertainment Design – Purdue Polytechnic

    Innovative Themed Entertainment Design: Creating Immersive Experiences

    Rachael Leigh Cook and Brandon Routh ‘Happy to Have Found Each Other’ Following Respective Divorces – yahoo.com

    Rachael Leigh Cook and Brandon Routh ‘Happy to Have Found Each Other’ Following Respective Divorces – yahoo.com

    ‘Billie Jean’ – Hyde Park Herald

    The Enduring Magic Behind ‘Billie Jean’ Revealed

    Hank Hill returns to a changed world in new ‘King of the Hill’ episodes – New Haven Register

    Hank Hill Navigates a Bold New World in Thrilling New ‘King of the Hill’ Episodes

    Exclusive | Fox Takes Stake in IndyCar Owner Penske Entertainment – The Wall Street Journal

    Exclusive | Fox Takes Stake in IndyCar Owner Penske Entertainment – The Wall Street Journal

    Go-to entertainment: why gaming was made for the toilet – The Guardian

    Why Gaming Is the Ultimate Way to Pass Time in the Bathroom

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    BlackSky Technology Inc. (BKSY) Reports Q2 Loss, Lags Revenue Estimates – Yahoo Finance

    BlackSky Technology Inc. Reports Q2 Loss, Misses Revenue Targets

    Improved Technology Access: A Key to Closing the Healthcare Gap for African Americans – BIOENGINEER.ORG

    LMI Expands Technology Org, Appoints New Leaders – GovCon Wire

    LMI Expands Technology Team with Dynamic New Leadership Appointments

    Midland Innovation and Technology Charter School closing down – CBS News

    Midland Innovation and Technology Charter School Closes Permanently

    Future Trends In HR Technology – Dataconomy

    Future Trends In HR Technology – Dataconomy

    Nasdaq-listed Verb Technology to build $558 million TON treasury, rebrand as TON Strategy Co. – The Block

    Nasdaq-Listed Verb Technology to Build $558 Million TON Treasury and Rebrand as TON Strategy Co

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Yen surges on suspected intervention by Japanese authorities

May 2, 2024
in Business
Yen surges on suspected intervention by Japanese authorities
Share on FacebookShare on Twitter

By Takaya Yamaguchi, Tetsushi Kajimoto and Gertrude Chavez-Dreyfuss

TOKYO/NEW YORK (Reuters) -The yen surged against the dollar in early Asian hours on Thursday on what traders suspected was another round of intervention by Japanese authorities to stop a sharp slide in the currency, with the 160 level seen as a key line of defence.

The dollar fell sharply to precisely 153 yen from about 157.55 yen for reasons that were not immediately clear, but traders and analysts were quick to say it was dollar selling ordered by Japan’s Ministry of Finance to support a currency languishing at 34-year lows.

The latest move came in a quiet period for the currency pair, after the U.S. stock market had closed and with the Federal Reserve’s monetary policy meeting ending hours earlier.

The dollar was already on the back foot after Fed Chair Jerome Powell confirmed that the central bank’s bias was towards interest rate cuts, even if the timing has been delayed by sticky inflation.

“There’s no doubt the MOF intervened,” said Daisaku Ueno, chief FX strategist at Mitsubishi UFJ (NYSE:) Morgan Stanley Securities, who says officials have set 160 yen per dollar as their “final defence line.”

“This morning’s intervention is proof that Japanese authorities will intervene any time of the day, and any day of the year,” he added. “They will continue to intervene.”

Additionally, Columbia University academic and former finance ministry executive Takatoshi Ito told Reuters it was plausible Japanese authorities intervened to signal they see 160 yen to the dollar as their line in the sand.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure

here

or
remove ads
.

The yen has been under pressure as U.S. interest rates have climbed and Japan’s have stayed near zero, driving cash out of yen and into higher-yielding assets.

The pressure has intensified since March as expectations for Fed rate cuts receded, reinforcing the yen’s status as a cheap funding currency.

When contacted by Reuters, Japan’s vice finance minister for international affairs, Masato Kanda, who oversees currency policy, said he had no comment on whether Japan had intervened in the market.

A U.S. Treasury spokesperson declined to comment on the move in the currency pair.

Yellen told Reuters last week that currency interventions were acceptable only in “very rare and exceptional circumstances” when markets were disorderly with excessive volatility.

CHALLENGING

The difficulty in arresting the yen’s slide has been made clear by the speed at which the currency has reversed direction after its spike.

As of 0240 GMT, the yen was more than 1% lower at 155.90 per dollar, giving up more than half the ground it gained overnight.

And it remains down about 10% against the dollar this year amid receding bets for near-term Fed rate cuts, while the Bank of Japan has signalled it will go slow with further policy tightening after its first rate hike since 2007 in March.

The gap between long-term government bond yields in the two countries is a yawning 376 basis points, which helped push the yen to the weakest since April 1990 at 160.245 per dollar on Monday.

That milestone also triggered a sharp rebound in the yen, which official data earlier this week suggested was due to Japanese intervention totalling about $35 billion, close to a record amount. The finance ministry has declined to say whether it was behind the move.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure

here

or
remove ads
.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Investing.com – https://www.investing.com/news/economy/japans-yen-jumps-vs-dollar-amid-specter-of-boj-intervention-3412104

Tags: businessSurgesSuspected
Previous Post

Japan’s FX intervention signals 160 yen line in the sand, says ex-official

Next Post

All Brawlhalla Codes for May 2024

Trailer: Netflix Animation Welcomes Viewers to the Whimsical World of Dr. Seuss! – Animation Magazine

Trailer Unveils the Whimsical World of Dr. Seuss in Netflix Animation!

August 8, 2025
Spending on AI data centers is so massive that it’s taken a bigger chunk of GDP growth than shopping—and it could crash the American economy – Fortune

Spending on AI data centers is so massive that it’s taken a bigger chunk of GDP growth than shopping—and it could crash the American economy – Fortune

August 8, 2025
SPC Health Programs Showcase: Featuring Nursing, Radiography, and Surgical Services Degrees – St. Petersburg College

Explore Exciting Career Paths in Nursing, Radiography, and Surgical Services at SPC Health Programs Showcase

August 8, 2025
Top Trump officials discussed Epstein at White House meeting Wednesday night – CNN

Top Trump officials discussed Epstein at White House meeting Wednesday night – CNN

August 8, 2025
A quilt-themed exhibit is coming to NYC’s American Folk Art Museum this fall – Time Out Worldwide

Discover the Magic of Quilts: Don’t Miss This Captivating NYC Exhibit This Fall!

August 7, 2025
Maximizing pasture potential, the science behind multi-species grazing – Beef Magazine

Unlock the Full Potential of Your Pasture with Science-Backed Multi-Species Grazing Strategies

August 7, 2025
The Council for Responsible Nutrition announces Science in Session theme and lineup – Nutritional Outlook

Council for Responsible Nutrition Reveals Thrilling Science in Session Theme and Speaker Lineup

August 7, 2025
Alibaba Upgrades Taobao Lifestyle Experience with New Cross-platform Loyalty Program – Alizila

Alibaba Upgrades Taobao Lifestyle Experience with New Cross-platform Loyalty Program – Alizila

August 7, 2025
BlackSky Technology Inc. (BKSY) Reports Q2 Loss, Lags Revenue Estimates – Yahoo Finance

BlackSky Technology Inc. Reports Q2 Loss, Misses Revenue Targets

August 7, 2025
Sports card industry leaders on what’s working and why trust needs to be improved – The New York Times

Sports card industry leaders on what’s working and why trust needs to be improved – The New York Times

August 7, 2025

Categories

Archives

August 2025
MTWTFSS
 123
45678910
11121314151617
18192021222324
25262728293031
« Jul    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (759)
  • Economy (783)
  • Entertainment (21,659)
  • General (16,341)
  • Health (9,822)
  • Lifestyle (792)
  • News (22,149)
  • People (783)
  • Politics (792)
  • Science (15,995)
  • Sports (21,279)
  • Technology (15,762)
  • World (765)

Recent News

Trailer: Netflix Animation Welcomes Viewers to the Whimsical World of Dr. Seuss! – Animation Magazine

Trailer Unveils the Whimsical World of Dr. Seuss in Netflix Animation!

August 8, 2025
Spending on AI data centers is so massive that it’s taken a bigger chunk of GDP growth than shopping—and it could crash the American economy – Fortune

Spending on AI data centers is so massive that it’s taken a bigger chunk of GDP growth than shopping—and it could crash the American economy – Fortune

August 8, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version