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Search resuls for: "Japan's Finance"


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☆ Japan ready to take 'decisive' steps against yen decline - FinMin
  + stars: | 2022-10-13 | by ( Leika Kihara | ) www.reuters.com   time to read: +1 min
"We cannot tolerate excessive volatility in the currency market driven by speculative moves. We're watching currency moves with a strong sense of urgency," Suzuki told reporters on Wednesday after attending the G7 finance leaders' meeting in Washington. The yen has fallen since Japan stepped into the currency market last month to prop up its value. Instead, we're looking at volatility," Suzuki said. His remarks came after the government's top spokesman Hirokazu Matsuno told reporters in Tokyo on Thursday that Japan stands ready to take appropriate steps against excess volatility in foreign exchange markets.
☆ Morning Bid: Unstable cable
  + stars: | 2022-09-26 | by ( ) www.reuters.com   time to read: +5 min
Supercharging an already rampant U.S. dollar around the globe, the sterling/dollar rate - nicknamed 'cable' by traders - went into virtual freefall at one point early on Monday. The pound's plunge comes ahead big auctions of both long-term and inflation-linked British government bonds this week and increasing liquidity issues in the gilt markets. read moreThe scale of the pound's losses and fiscal fears has many traders speculating about emergency rate rises by the Bank of England. Rate futures now price in a three-quarters-of-a-point hike to 3% on or before the BoE's next meeting on Nov. 2. read moreChina also acted in a different way on Monday to rein in yuan ongoing slump against the dollar.
☆ Japan warns against speculative yen moves, markets wary of further intervention
  + stars: | 2022-09-26 | by ( Tetsushi Kajimoto Leika Kihara | Tetsushi Kajimoto | Leika Kihara | ) www.reuters.com   time to read: +5 min
"We are deeply concerned about recent rapid and one-sided market moves driven in part by speculative trading," Suzuki told the news conference. The remarks came after the government's decision on Thursday to intervene in the currency market to stem yen weakness by selling dollars and buying yen for the first time since 1998. read moreKuroda said the government's intervention was an appropriate move to deal with "rapid, one-sided" yen moves. "Monetary policy and currency policy have different goals and effects," he said. "It was a meaningful move that showed Japan's determination it won't leave unattended sharp market volatility," he said.
☆ Analysis: Race to rein in strong dollar is on after Japan intervenes
  + stars: | 2022-09-22 | by ( Tommy Wilkes Nell Mackenzie | Tommy Wilkes | Nell Mackenzie | ) www.reuters.com   time to read: +5 min
Few think another G7 central bank would be bold enough to intervene directly as Japan did on Thursday. But they say markets should prepare for more verbal intervention and more aggressive rate hikes as policymakers try to thwart the U.S. currency's ascent. The dollar surge follows aggressive Federal Reserve interest rate hikes, recession fears and geopolitical uncertainty following Russia's invasion of Ukraine. The yen, its central bank sticking to ultra-loose policy even as others raise rates, has been the biggest loser. Richard Benson, co-chief investment officer at Millennium Global Investments, said aside from the SNB, which intervenes regularly, another central bank intervention was unlikely.
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