ACTV - Heightened Threat Of Japanese Intervention Pushes Greenback Away From JPY152
2024-03-27 07:25:00 ET
Summary
- The dollar neared JPY152, setting a new 34-year high and this appeared to spur a senior official meeting in Tokyo, ostensibly to talk about the response.
- Most of the G10 currencies are softer against the dollar but the yen.
- Most emerging market currencies are softer today.
- Chinese equities got thumped today, with the CSI 300 off nearly 1.2% and the Hang Seng dropped almost 1.4%.
- Gold is firm, recording a higher low for the third consecutive session as remains near $2200.
Overview
The dollar neared JPY152, setting a new 34-year high. This appeared to spur a senior official meeting in Tokyo, ostensibly to talk about the response. Previously, we suggested that Friday, when most markets outside of Asia will be closed, could provide an interesting opportunity for intervention. The implicit threat was enough to take the dollar to JPY151.10 in the European morning. Most of the G10 currencies are softer against the dollar but the yen....
Heightened Threat Of Japanese Intervention Pushes Greenback Away From JPY152