Several Rounds of FX Intervention Since Thursday Offer Yen Short-Term Relief
Dow Jones
Aug 03
0528 GMT - Several rounds of FX intervention since Thursday offer the yen short-term relief, RBC Capital Markets' Abbas Keshvani says in an email. "Current intervention is bolder," the director of Asia Macro Strategy says. "This latest episode of intervention is larger in size and more coordinated than the others," the director says. The effects "should last longer than the April/May intervention, which the market faded within a month," Keshvani says. The director notes suspected FX intervention today, coordinated U.S.-Japan FX intervention on Friday, and solo Japan intervention on Thursday. The dollar is 0.7% lower at 156.48 yen, LSEG data show.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.