Japanese Yen is past 150 and the rumor is MoF just intervened
1968 sats \ 9 comments \ @peruvian_bull 13 Nov 2023 bitcoin
Last year, the Bank of Japan undertook its most significant currency market interventions since 1998 to defend the Yen as it climbed to 150 against the dollar. Over the course of the next several months, the MoF (Ministry of Finance) and BoJ worked together to dump USDs and buy back Yen, holding the line by dumping $80B a month or so.
Now, the Yen has climbed back to 150 against the USD and a sharp move in forex markets today has many speculating that the MoF just did a mini-intervention.
Our fiat system is so broken.
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33 sats \ 3 replies \ @siggy47 13 Nov 2023
What date is that chart? I just checked the price. Yen is at about 151.57 lowest I have seen in a while.
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63 sats \ 2 replies \ @peruvian_bull OP 13 Nov 2023
this is today, just an hour ago or so on Tradingview
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0 sats \ 0 replies \ @siggy47 13 Nov 2023
Now you have me interested. It's breaking lower!
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0 sats \ 0 replies \ @siggy47 13 Nov 2023
Maybe it collapsed again? Usually an intervention results in significant strengthening.
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10 sats \ 1 reply \ @benwehrman 13 Nov 2023
I blame those nostrasia hooligans, they had something to do with this
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71 sats \ 0 replies \ @peruvian_bull OP 13 Nov 2023
those bastards!
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0 sats \ 0 replies \ @quark 13 Nov 2023
Just a bit of profit taking before tomorrow's cpi. That's no intervention. You will feel different when the intervention comes.
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0 sats \ 0 replies \ @gmd 13 Nov 2023
Man this is scary stuff... I do need to plan a trip to Japan though to take advantage of this. and buy more btc...
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0 sats \ 0 replies \ @peruvian_bull OP 13 Nov 2023
I have a whole thread on the insanity that is Japanese monetary policy on twitter, let me see if I can post it here 💪🏼
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