Another new low for JPY as the Japanese government is shuffling up its top Finance Ministry people. Everyone continues to blame the Fed for the yen’s crash but the evidence conclusively shows that’s not it. This only raises the question, what is it? The yen’s own track record holds the answer and it is one that applies to you.
Eurodollar University’s Money & Macro Analysis
Reuters Japan names new FX diplomat as yen hits 38-year low
https://www.reuters.com/markets/asia/japan-appoints-atsushi-mimura-top-fx-diplomat-replacing-masato-kanda-2024-06-28/
Reuters Japan warns against rapid FX moves, reiterates readiness for action
https://www.reuters.com/markets/currencies/japan-warns-against-rapid-fx-moves-reiterates-readiness-action-2024-06-24/
Bloomberg Yen Falls Through 161 Per Dollar, Putting Intervention in Focus
https://www.bloomberg.com/news/articles/2024-06-28/yen-falls-through-161-per-dollar-as-intervention-wagers-increase
Barrons The Fed’s Higher for Longer Policy Is Breaking the Yen
https://www.barrons.com/articles/fed-yen-b66308af
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
