Another suspected market intervention likely cost Japan ¥3 tril

MoF is selling dollars they bought at much better exchange rates. Praise them for "taking profits".

JeffLeeToday  07:05 am JST

Send the bill to Ueda and Powell.

I think that it should be rather sent to Abe and Kuroda!

The only mistake done by Ueda was to accept a job which is mission impossible!

So we all pay 25,000 per capita for an only temporary improvement of the exchange rate of about 4 or 5? Next time give it every citizen as a handout!

Send the bill to Ueda and Powell.

Are you certain this won't end in a profit?

When you have companies like Zojirushi ignoring half the world's market, you'd have to think either they can't be bothered, or they think the Yen is still not competitive enough. Either way, Japanese corporates don't give a hoot about the BoJ.

https://www.zojirushi-world.com/

Where's Oceania, Africa, Middle East, Europe...Just about every time I go to New Zealand, I bring (buy) a rice cooker for a friend, and my American friends love the small broiler ovens but voltage incompatibility stops them from importing them.

"cost Japan"? Surely they just bought a bunch of cheap yen with dollars they exchanged for much less years ago?

At this moment the rate is 153.00¥ and dropping.

Yubaru

At this moment the rate is 153.00¥ and dropping.

The Japanese markets are closed today and Monday so this is an unofficial rate for inside Japan.

If I receive or send a wire transfer today the rate is ¥153/$. I have received two in the last month.

https://wise.com/us/currency-converter/usd-to-jpy-rate

Send the bill to Ueda and Powell.

Sven....

They just bought yen at 158 to the $, and can now buy dollars for 155 yen.

Just literally giving FX traders cash.

The yen has fallen so much this year that some traders and investment banks are taking gains off the table. Two interventions in one week will definitely cause concern among traders.

This may or may not be true but I’ll take any strengthening of the yen as a positive.

Dumb and dumber.

Oh come on its either huge government intervention or another biblical water into wine, five loaves two fishes moment.

Somebody is going to have to pick up the tab for this.

To buy yen and sell the dollar on such a scale, is only half the story.

Market confidence and skulduggery is at play here

It's Japan fiscal/economic policy, the fundamental building blocks sector wide in question.

Japan is selling many dollars so it is not technically at all costing yen to Japan.

The amount is about 51 billion less dollars in the balance.

Since it is not unlimited, it weakens Japan's future currency stability. The trend will not stop and this is normal.

At this moment the rate is 153.00¥ and dropping.

The Japanese markets are closed today and Monday so this is an unofficial rate for inside Japan.

Weak yen is great for me sending money to Japan. Let the good times roll!

And the yen will still test the 160 level again soon anyway.

futile efforts.