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Search resuls for: "Leika Kihara Tetsushi Kajimoto"


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Coins and banknotes of Japanese yen are seen in this illustration picture taken June 16, 2022. That contrasts with Japan's intervention after the 2011 earthquake and tsunami to quell sharp yen rises, in which authorities announced most interventions. "With stealth intervention, authorities can give markets the impression they could be stepping in more frequently than they actually have," said Atsushi Takeda, chief economist at Itochu Research Institute. That means Tokyo will need to rely more on its words - or its silence - rather than reserves to shore up the yen. You could say stealth intervention may be better than nothing, though it's really just buying time."
TOKYO, Sept 22 (Reuters) - Japan intervened in the currency market on Thursday to buy yen for the first time since 1998, in attempt to shore up the hard-hit currency after the Bank of Japan stuck with ultra-low rates. Currency intervention is costly and could easily fail given the difficulty of influencing its value in the huge global foreign exchange market. Japan's foreign reserves stand at $1.33 trillion, the world's largest after China's and likely composed mostly of dollars. Currency intervention would also require informal consent by Japan's G7 counterparts, notably the United States, if it were to be conducted against the dollar/yen. That is not easy with Washington traditionally opposed to the idea of currency intervention, except in cases of extreme market volatility.
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