The Japanese Yen is up against the US dollar to its strongest level since mid-June.
The USD-JPY currency pair is down over 3% since Thursday after hitting a 38-year high following another round of intervention by Japan’s Ministry of Finance. Japanese authorities reportedly spent $22 billion on Thursday and Friday to prop up the yen, according to Bloomberg. This comes after Japan spent a record $62 billion to support the currency between April 26th and May 29th. Over the last 12 months, the Yen has declined by ~12% and has been the worst-performing currency of G10. Source: The Kobeissi Letter
Is the Bank of Japan intervening again trying to prevent the Yen from falling further against the U.S. Dollar?
barchart
How India's rupee went from most to least volatile currency in Asia
Source: Bloomberg
Japan's Yen weakens beyond 160 per Dollar, the weakest level since 1986.
Source: Bloomberg, HolgerZ
How India's rupee went from most to least volatile currency in Asia
Source : Bloomberg
Asset Managers have built the largest Japanese Yen short position in history
Source: Bloomberg, Barchart
As the yen teeters toward 160, Japan says it's ready to intervene in the Yen's collapse 24 hours a day if necessary 👀
Note that previous interventions have been unsuccessful, to say the least... Source: Barchart
The US dollar’s share of foreign reserves remains dominant, though it has continued to slowly erode
This has been accompanied by a rise for others such as the Australian dollar, Canadian dollar, Chinese renminbi, and Korean won. Source: IMF
