Japan Intervenes in Currency Markets to Support Yen, First Time Since 1998

Japan Intervenes in Currency Markets to Support Yen, First Time Since 1998 | WSJ archive.ph/7jxcO

504 sats \ 6 comments \ @cryptocoin 22 Sep 2022 bitcoin

171 sats \ 0 replies \ @ken 22 Sep 2022

Japan is boosting the yen These central bankers aren't your fren Don't fight, find your zen Need rhymes, just ask @ken

41 sats \ 0 replies \ @cryptocoin OP 22 Sep 2022

Japan said Thursday it intervened in currency markets to sell dollars and buy yen, the first such intervention in 24 years

The link for this post is using an archive for the article on The WSJ's website. An archive has no paywall, no subscription requirement, and can be easier to read. The original article, on The WSJ's website is:

Japan Intervenes in Currency Markets to Support Yen https://www.wsj.com/articles/japan-intervenes-in-currency-market-to-support-yen-11663836942

The central banks currency wars begin. Who else is joining the fight?

https://twitter.com/NorthmanTrader/status/1572864489707413504 [Nitter]

36 sats \ 3 replies \ @bitcoingraffiti 22 Sep 2022

So they're selling dollars for their own garbage? Whilst doing YCC? This seems like a panic move, no? Once they're out of dollars, it's bye bye, right?

37 sats \ 1 reply \ @siggy47 22 Sep 2022

Japan is a major holder of US bonds. They have a long way to go before using up their powder. For the dollar, if major US bond holding nations are forced to liquidate to shore up their own currencies, it will be that much more difficult for the fed to stop buying treasuries. In fact, it seems impossible

36 sats \ 0 replies \ @bitcoingraffiti 22 Sep 2022

Right, so it actually has the effect of the Fed reversing its policy sooner.

25 sats \ 0 replies \ @bitcoingraffiti 22 Sep 2022

Got a reply from Lyn Alden here: https://twitter.com/LynAldenContact/status/1572894688415449089