A Week After the Continued U.S.-Japan Coordinated Intervention: Will the Dollar-Yen be Tested by Employment Data — Why Did Domestic and Overseas Readings Diverge?
Mr. Bessent's Additional Remarks Favoring Yen Strength
U.S. Treasury Secretary Janet Yellen has issued additional remarks regarding the yen exchange rate.
- Strong belief in Japan’s additional policy responses following intervention
- Bank of Japan Governor Ueda will take necessary measures
- The current level of the yen could trigger other issues and currency depreciation
- If the yen falls sharply, other Asian currencies may follow
Yesterday, we considered the differences in outlook between domestic and foreign investors.
Although immediate, remarks that serve as a check on yesterday’s expectations have already emerged. Today we will confirm from here.