Japan's intervention unlikely to stem yen's slide

By Supriya Singh

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The action took the market somewhat by surprise

Yes, especially since Japan is supposed to notify the other G7 countries of any currency intervention, which they did not, apparently. At least, the Canadian central bank states they did not know.

Also, buying the yen at the quantities where it would make a large difference in the exchange rates can very easily deplete the dollar reserves, therefore it's not as effective than when selling the yen where they can just print more.

No wonder the US has Japan listed as a currency manipulator, along with China.

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with price rises remaining relatively slow compared with the United States and European countries. Japan's core consumer prices in August rose 2.8 percent from a year earlier.

We hear this literal sentence copy pasted into every Kyodo article.

For 2 years we heard from them how low the COVID case numbers were in Japan, just for it rise to the worst of the worst of the world.

Let's hope we won't end up the worst of the worst in this recession, also, but frankly, I personally feel we might, due to the structural issues of stagnant wages coupled with inflation.

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24 years... Boj must be taking profits and can decrease unnecessary US-T investments.

If the war ends, the biggest trigger of this world-wide inflation instantaneously disappear...

Choking economy by simply raising rates against all these non-economical outside factors is simply stupid.

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1 trillion $ reserves, not to mention it's not pegged. It's not like BoE vs Solos... No need to beg for FX swap to borrow $ like the neighbor

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I wouldn't be surprised to see the dollar appreciate relative to the yen for another 30 yen or so, to something like 175 yen to a dollar, in the near future. Fundamentals do not indicate that the BOJ or Ministry of Finance can jawbone the yen to rise in value. Intervention without significant changes will be short lived. Conditions need to change significantly for any real moderations in the yen's fall.

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What would even make the yen desirable?

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I wonder what would happen, if Japan released all it's stringent controls over BitCoin, allowing it to be the vehicle of choice for currency transfers into and out from the Country, unhindered ?

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