{"id":2001951,"date":"2023-08-15T23:36:02","date_gmt":"2023-08-16T03:36:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/japans-policymakers-hold-fire-as-yen-enters-intervention-range\/"},"modified":"2023-08-15T23:38:36","modified_gmt":"2023-08-16T03:38:36","slug":"japans-policymakers-hold-fire-as-yen-enters-intervention-range","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/japans-policymakers-hold-fire-as-yen-enters-intervention-range\/","title":{"rendered":"Japan&#8217;s policymakers remain cautious as the yen approaches the intervention threshold."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fjapans-policymakers-hold-fire-as-yen-enters-intervention-range%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2001951&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p><strong>Japan&#8217;s Policymakers Hold Fire as Yen Weakens<\/strong><\/p>\n<p>By Kevin Buckland<\/p>\n<p>TOKYO \u200b(Reuters) &#8211; As \u200bthe yen slid past 145 per dollar with barely a murmur from Japanese policymakers during recent days, suspicion grew that they \u2063won\u2019t be as quick\u200b to \u2064order intervention as they were last year as they now reap some\u2063 benefits from a weaker currency.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Surging exports helped\u2062 economic \u2064growth hit \u200c6% on an annualised basis in the second quarter, and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gas-prices-could-soar-again-as-oils-second-act-is-coming-expert-predicts\/\" title=\"Gas Prices Could Soar Again as \u201cOil\u2019s Second Act\u201d Is Coming, Expert Predicts\">lower global oil prices<\/a> have helped keep a lid on the import bill.<\/p>\n<p>But a key factor behind the yen\u2019s weakness is unchanged, namely the yawning yield gap with the United States. \u200dThe\u2062 Bank of Japan is taking baby steps away from its <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/macro-gamblers-grapple-with-immovable-bank-of-japan\/\" title=\"Macro gamblers grapple with immovable Bank of Japan\">ultra-loose monetary policy<\/a>, and there are\u200c increasing hopes \u2062that U.S.\u200d rates may have peaked, but \u200bas of now, the bond market provides a good reason to sell yen.<\/p>\n<p>Yet currency traders remain nervous about provoking intervention, as the yen entered the same \u2064zone that triggered heavy \u2062dollar selling by Japanese\u2062 authorities in September and October of last year.<\/p>\n<p>Finance Minister Shunichi Suzuki issued a reminder on Tuesday against causing volatility in the exchange rate, as the  \u200d  <\/p>\n<p>yen struck a 9\/1-2\u2063 month low of\u200d 145.60 in Asian trading.<\/p>\n<p>Suzuki warned that rapid\u200c moves are \u201cundesirable\u201d and the \u200dgovernment is \u201cready to respond appropriately,\u201d while reiterating that \u2063no specific levels are targeted for intervention.<\/p>\n<p>Officials had been a lot more vociferous \u200din June\u200b when the yen weakened past \u2062144, and their subdued response to the latest depreciation was interpreted by market participants as a\u200c sign that Tokyo will tolerate a bit more weakness \u200cso \u2062long as speculators didn\u2019t push it too fast.<\/p>\n<p>\u201cThe pain associated with the 145-150 level is less \u2064now for the economy, so \u2062I don\u2019t think they\u2019ll be quite as aggressive as they were last year,\u201d said \u200cAaron Hurd, a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/negative-yielding-corporate-bonds-go-extinct\/\" title=\"Negative Yielding Corporate Bonds Go Extinct\">senior portfolio manager<\/a> at State Street Global Advisors in Boston.<\/p>\n<p>If the uptrend for\u200d the dollar-yen rate is gradual, intervention isn\u2019t likely until \u201caround 150 or a little bit above,\u201d he said.<\/p>\n<p>For now, traders are testing the\u2064 waters by selling\u2063 the yen against sterling and \u2062the Swiss franc, mindful that selling against the dollar could gather momentum quickly.<\/p>\n<p>NO IMPERATIVE TILL\u200b 150<\/p>\n<p>Japan spent more than 9 trillion yen ($62 billion) intervening in currency markets\u2062 last year to arrest the yen\u2019s decline, buying yen in \u200cSeptember and October \u2013 first at levels around 145 and\u2063 again at\u200d a 32-year low just short of 152.<\/p>\n<p>At the end of\u2063 August last year,\u200b the price of Brent crude oil was about $105 per \u2064barrel, and complaints about the pain \u200cfrom imported energy prices\u2062 were in the Japanese press on a \u200ddaily basis.<\/p>\n<p>\u201cNot only economically, but also \u200cpolitically, yen weakness at that time was a problem, and it clearly impacted the government\u2019s approval\u200b rating,\u201d said Masayuki Kichikawa, chief\u200d macro strategist at\u200b Sumitomo Mitsui DS Asset Management in Tokyo.<\/p>\n<p>The price \u200bof Brent is now around $88, and those complaints over imported fuel have faded into memory.<\/p>\n<p>From a purely macroeconomic perspective,\u2064 Kichikawa said, officials\u200b have no\u200b imperative to\u2064 prevent yen weakness before\u2063 150, which is consistent with the mild inflationary pressure that \u200bthe BOJ aims \u2062to foster.<\/p>\n<p>The bond market, which precipitated the yen\u2019s slide, may ultimately give Japan\u2019s authorities reason to hold off on pressing the\u200d intervention button.<\/p>\n<p>Should the lynchpin 10-year U.S. Treasury yield stabilise not far above 4%, and Japanese yields rise towards\u2063 the BOJ\u2019s new 1% cap, Japanese authorities\u200b may be inclined to let\u2064 market forces perform a gradual recovery in the \u2063yen as the yield gap closes.<\/p>\n<p>\u201cThe policy\u200c divergence \u200cstory is going to turn, if it hasn\u2019t already,\u201d said Shinichiro Kadota, a currency strategist at Barclays in Tokyo. \u201cThe risk of intervention definitely increases above \u200d145, but the urgency is less.\u201d<\/p>\n<p>($1 = 145.4900 yen)<\/p>\n<p>  (Reporting by Kevin Buckland and Saqib Iqbal Ahmed; editing by Simon Cameron-Moore)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/japans-policymakers-hold-fire\/attachment\/illustration-picture-of-japanese-yen-banknotes\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>Latest 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The fatalities are expected to \u200cincrease. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Officials in Fulton County, GA say the \u201cfictitious\u201d indictment that appeared on the county clerks website,\u200b \u00a0hours earlier was a \u2018sample working document\u2019. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Sheila Dang (Reuters) \u2013 Social media company X, formerly\u2063 known\u200c as Twitter, delayed access\u200c to\u200b links to content \u2064on the Reuters\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Felix Onuah ABUJA (Reuters) \u2013 Google plans to train 20,000 \u2063Nigerian women and youth \u2062in digital\u200b skills and provide a grant\u2026 \u2062 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Patrick\u2062 Wingrove (Reuters) \u2013 Amazon.com said on Tuesday its\u2063 online pharmacy will <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/japans-policymakers-hold-fire-as-yen-enters-intervention-range\/\" title=\"Japan's policymakers remain cautious as the yen approaches the intervention threshold.\">automatically apply manufacturer-sponsored coupons<\/a> to more than 15 insulin\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Christopher\u2063 Bing and Raphael Satter WASHINGTON (Reuters) -Republican U.S. Representative\u2062 Don\u2063 Bacon\u2063 late on Monday said the FBI \u200chad warned him\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Kevin Buckland TOKYO (Reuters) &#8211; The yen&#8217;s decline to 145 per dollar has raised doubts about Japanese policymakers&#8217; willingness to intervene, as they now see advantages from a weaker currency. Strong exports have contributed to economic growth.<\/p>\n","protected":false},"author":66,"featured_media":2001952,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2001951","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2001951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2001951"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2001951\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2001952"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2001951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2001951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2001951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}