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30.04.26 - 16:57
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Japan Intervened In FX Market To Buy Yen (ZeroHedge)
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Japan Intervened In FX Market To Buy Yen
With Brent surging to a new post war high overnight, rising as high as $125 on fear of an imminent resumption of hostilities in Iran, which dragged yields higher, and also pushed the USDJPY above 160 for the first time since late March, overnight Japan made clear - again - it wouldn't take it any more, with the usual round of jawboning.
*KATAYAMA: WE ARE MONITORING FX MARKET WHILE YOU ARE ON HOLIDAY
*KATAYAMA: WE ARE NEARING TIMING TO TAKE BOLD ACTION ON FX
Then
*MIMURA: WE ARE NEARING TIME TO TAKE BOLD ACTION ON FX
*MIMURA: THIS IS MY FINAL WARNING BEFORE ACTION
Then
*JAPAN PM TAKAICHI HOLDS PHONE TALKS WITH IRAN PRESIDENT: KYODO
JAPAN PM TAKAICHI: I HAVE WORKED TO ENSURE PASSAGE OF JAPANESE-RELATED VESSEL THROUGH STRAIT OF HORMUZ" RTRS
And while the market had grown used to constant jawboning by Japanese officials, this time Japan finally put its money where its mouth was, and with the USDJPY extending gains after all this verbal diarrhea, at...
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