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Japan's Ministry of Finance (MOF) has intervened in the foreign exchange market twice recently to support the yen, leading individual investors to increase their dollar holdings. Despite these interventions, leveraged funds are betting on the yen weakening back to USDJPY 160, with potential earnings of $13 billion for Japan.
Japan seen earning $13bn from suspected yen interventions https://t.co/r8DoezpZ4a
Japan seen earning $13bn from suspected yen intervention https://t.co/bbGQ78Uh2W
🇯🇵Japan At War With Markets: Anatomy of Yentervention Week Last week- Mon: USDJPY > 160 🇯🇵MOF shots fired, $JPY ↓ to 155 Thurs: post-FOMC Powell 🇯🇵MOF (at 🇯🇵5am) hits $JPU ↓ again By end of week, ¥9tn of JPY buying for -5% on USDJPY Why is it not working? Here’s why🧵 https://t.co/EcUm2PBPsp
