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Daisaku Ueno - 3 Masato Kanda - 2 Kanda - 2 Leika Kihara - 2 Shri Navaratnam - 2 Shunichi Suzuki - 2 Japan's - 2 Issei Kato - 1
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Search resuls for: "Daisaku Ueno"


6 mentions found


☆ Japan's re-defined intervention trigger may slow, but not derail, yen bears
  + stars: | 2023-10-06 | by ( Leika Kihara | ) www.reuters.com   time to read: +5 min
[1/2] A man looks at an electric monitor displaying the Japanese yen exchange rate against the U.S. dollar and Nikkei share average outside a brokerage in Tokyo, Japan October 4, 2023. While money flow data suggest there was no intervention, the price action was enough to keep yen bears at bay. Rather, the remarks by Kanda were likely a fresh warning shot to markets that authorities could step in any time - even if yen moves were moderate, they say. Intervention isn't the best tool to arrest steady yen declines anyway, said former currency diplomat Hiroshi Watanabe. "There's no point intervening when yen moves are gradual," Watanabe told Reuters.
Persons: Issei Kato, Masato Kanda, that's, Kanda, Tokyo's, Atsushi Takeuchi, They're, Daisaku Ueno, Mitsubishi UFJ, Mitsubishi UFJ Morgan Stanley, Hiroshi Watanabe, Watanabe, Leika Kihara, Tetsushi, Shri Navaratnam Organizations: U.S ., Nikkei, REUTERS, Tokyo, Authorities, Bank of, U.S . Federal Reserve, Treasury, Mitsubishi, Mitsubishi UFJ Morgan, Mitsubishi UFJ Morgan Stanley Securities, Reuters, Thomson Locations: Tokyo, Japan, TOKYO, United States
☆ Japan finance minister offers no clues on intervention as yen weakens
  + stars: | 2023-09-01 | by ( Tetsushi Kajimoto | ) www.reuters.com   time to read: +2 min
Banknotes of Japanese yen are seen in this illustration picture taken June 15, 2022. Some market players were surprised by the lack of determination to keep the yen from falling beyond 145 yen to the dollar. Traders are watching for any signs of intervention by Japanese officials to shore up the ailing currency. However, Japanese officials have rarely escalated verbal warnings since last month against speculators trying to sell off the yen. The weak yen has driven up import bills for fuel and foods, depriving households of purchasing power and prompting Prime Minister Fumio Kishida to scramble for measures to subsidise gasoline retail prices and to mitigate rises in utility bills.
Persons: Florence Lo, Shunichi Suzuki, Suzuki, Japan's, Daisaku Ueno, Fumio Kishida, Tetsushi Kajimoto, Tom Hogue, Kim Coghill Organizations: REUTERS, Rights, Japanese Finance, Mitsubishi UFJ Securities, Authorities, U.S . Federal Reserve, Bank of Japan, Thomson Locations: Japan
☆ BOJ member called for early tweak to YCC, yen worries resurface
  + stars: | 2023-06-26 | by ( Leika Kihara Tetsushi Kajimoto | Leika Kihara | Tetsushi Kajimoto | ) www.reuters.com   time to read: +4 min
It was the first time the BOJ summary showed a board member explicitly mentioning the need for an early debate of a tweak to YCC, which contrasts with Governor Kazuo Ueda's remarks ruling out any imminent change in policy. Under YCC, the BOJ guides short-term interest rates at -0.1% and the 10-year bond yield around zero as part of efforts to sustainably achieve its 2% inflation target. Some market players bet the central bank could tweak YCC, such as by widening the allowance band set around the 10-year yield target, as early as July to address market distortions caused by its huge bond buying. FRESH YEN WORRIESYCC is also blamed by some analysts for causing an unwelcome yen fall that pushes up raw material import costs. However, Kanda stopped short of saying Japan was ready to take "decisive action" - language he used shortly before Japan stepped into the currency market last year.
Persons: policymaker, Kazuo Ueda's, Ueda, Daisaku Ueno, MItsubishi UFJ, MItsubishi UFJ Morgan Stanley, YCC, Masato Kanda, Kanda, Shunichi Suzuki, Japan's, Leika Kihara, Shri Navaratnam, Sam Holmes Organizations: Bank of Japan, MItsubishi, MItsubishi UFJ Morgan, MItsubishi UFJ Morgan Stanley Securities, Finance, Thomson Locations: TOKYO, Japan, Asia
☆ Japan spent record $42.8 bln in October interventions to prop up yen
  + stars: | 2022-10-31 | by ( Tetsushi Kajimoto | ) www.reuters.com   time to read: +4 min
The 6.3499 trillion yen ($42.8 billion) was broadly in line with the estimates of Tokyo money market brokers who thought Japan had likely spent up to 6.4 trillion yen over two consecutive trading days of unannounced interventions. A steep drop in the yen to a 32-year low of 151.94 to the dollar on Oct. 21 likely triggered the intervention, followed by another one on Oct. 24. However, the amount was nearly double the 2.8 trillion yen Tokyo spent last month in its first yen-buying and dollar-selling intervention in more than two decades. The interventions helped to trigger an immediate drop in the dollar of more than 7 yen on Oct. 21, and another dollar fall to the yen by around 5 yen on Oct. 24 albeit temporarily. "This suggested that the Japanese authorities will continue to attack market players selling off the yen beyond 150 yen."
☆ Japanese yen whipsawed on further suspected intervention
  + stars: | 2022-10-24 | by ( Tetsushi Kajimoto Yoshifumi Takemoto | Tetsushi Kajimoto | Yoshifumi Takemoto | ) www.reuters.com   time to read: +3 min
Banknotes of Japanese yen are seen in this illustration picture taken September 22, 2022. REUTERS/Florence Lo/Illustration/File PhotoSummary Yen volatile as Tokyo suspected of intervention for 2nd dayYen plunged to 32-year low vs dollar near 152 yen FridayFX officials remains tight lipped on interventionTOKYO, Oct 24 (Reuters) - The Japanese yen was whipsawed in early Monday trading on suspected intervention by Tokyo for the second straight day, but the efforts to slow the currency's relentless slide was blunted by a dollar riding a wave of yield-driven and safe-haven demand. Japanese authorities again declined to confirm whether they had intervened, but the price action strongly suggested they had. read moreEarly on Monday, the Japanese currency made a thumping 4 yen jump to 145.28 per dollar, indicating currency authorities had stepped in for a second successive day, after a similar move by Tokyo on Friday. If the United States shows signs of its rate hikes peaking out and even cutting interest rates, the yen would stop weakening even without intervention."
☆ Analysis: G7 fails to reach intervention deal to ease pain of soaring dollar
  + stars: | 2022-10-16 | by ( Leika Kihara | ) www.reuters.com   time to read: +7 min
Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. With a strong push from Japan, finance leaders of the Group of Seven advanced economies included a phrase in a statement on Wednesday saying they will closely monitor "recent volatility" in markets. "Many countries saw the need for vigilance to the spill-over effect of global monetary tightening, and mentioned currency moves in that context. "I've said on many occasions that I think a market-determined value for the dollar is in America's interest. "It's impossible to reverse the yen's downtrend with solo intervention," said Daisaku Ueno, chief forex strategist at Mitsubishi UFJ Morgan Stanley Securities.
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