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And so Japan is back to jawboning to keep the yen from imploding. Because this time it will work Japan’s Mimura: Looking at FX Market Including Speculative Moves
⚠️ JAPAN TOP CURRENCY DIPLOMAT MIMURA: WILL MONITOR FOREX MOVES INCLUDING SPECULATIVE MOVES
“Then the #BOJ, that never learned from its mistakes, will intervene in the FX market again to avoid a sharp $JPY devaluation and will blame speculators” 48h later 🙈: “MIMURA EXAMINES SPECULATION IN THE FOREIGN EXCHANGE MARKET” https://t.co/2T5eKCEGb3 https://t.co/0OxI11kMWu
Japan's top currency diplomat, Mimura, has announced that he will closely monitor the foreign exchange (FX) market, with a particular focus on speculative movements. This statement comes amid concerns about potential sharp devaluation of the Japanese yen. The Bank of Japan (BOJ) has historically intervened in the FX market to prevent significant devaluation and has often attributed such movements to speculative activities. Mimura's comments, made 48h later, suggest that Japan is prepared to take action if necessary to stabilize the yen.
