Several Rounds of FX Intervention Since Thursday Offer Yen Short-Term Relief

Dow Jones
08/03

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.

 

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