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- Bloomberg
Yen Weakens Past 145 Per Dollar, Nears Prior Intervention Levels
(Bloomberg) -- The yen slid back past 145 per dollar, prompting renewed warnings from Japan’s finance minister and boosting speculation the government may intervene prop up the currency for a second time this year.The nation’s currency slipped as much as 0.4% to 145.30, extending this year’s decline to 21%. The yen had tumbled to a 24-year low of 145.90 on Sept. 22 before policy makers stepped in to contain losses.“If we see excessively one-sided moves or something similar, we will take bold act
- Yahoo Finance
Stock market: 2022 is exposing 'freaky post-QE financial system plumbing,' BofA says
The global research team at BofA Securities, led by Michael Hartnett, has navigated the curveballs thrown by 2022 far better than most.
- Reuters
Japan spent record of nearly $20.0 billion on intervention to support the yen
Japan spent up to a record 2.8 trillion yen ($19.7 billion) intervening in the foreign exchange market last week to prop up the yen, Ministry of Finance data showed on Friday, draining nearly 15% of funds it has readily available for intervention. The figure was less than the 3.6 trillion yen estimated by Tokyo money market brokers for Japan's first dollar-selling, yen-buying intervention in 24 years to stem the currency's sharp weakening. The ministry's figure, indicating total spending on currency intervention from Aug. 30 to Sept. 28, is widely believed to have been used entirely for the Sept. 22 intervention.
