MARKET INTERVENTION
Yen bounces, traders wary of more Japan intervention
The yen jumped against the dollar on Friday, with traders on high alert for signs of fresh intervention by authorities, after a surge in the Japanese currency on Thursday that was likely the result of official buying.
Japan's Nikkei drops from record high on chip selloff, yen intervention nerves
The Nikkei share average dropped 2% on Friday, influenced by a tech stock selloff mirroring Wall Street. Profit-taking before Japan's long weekend due to currency intervention concerns. Tokyo Electron and Disco saw significant declines. Topix also down 0.93%. Market affected by bond yield decrease and SoftBank's chipmaker acquisition.
Dollar drops, yen surges as consumer prices fall in June
June's U.S. CPI drop led the dollar to fall, sparking yen intervention speculation. Japan's Ministry of Finance to confirm. Masato Kanda discussed yen fundamentals. Fed may cut rates in September. Euro, pound rose; British GDP exceeded expectations. Analysts from Bank of America and Standard Chartered noted inflation impacts. Long dollar/yen trades corrected. Bitcoin rose to $57,821.
Japanese yen jumps after US data; traders still wary of intervention
The Japanese yen jumped on Thursday, in a move traders said was most likely the result of dollar selling after a weak reading of U.S. consumer inflation, rather than official intervention from Tokyo authorities.
Options market activity needs supervision but no intervention: Shrikant Chouhan
Yes, definitely, we need to increase, we can say, either a lot size or we can increase the net worth of a particular trader, I think that criteria will help the market to reduce this type of speculation.
Dollar on the defensive after soft data, little relief for yen
Currency markets react to global economic trends, with sterling potentially shifting leadership from Rishi Sunak to Keir Starmer in the UK.
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Japan's Nikkei skids 1% as yen intervention risks rise
Amid market fluctuations, concerns over currency intervention lingered as the yen's value approached key thresholds. Traders closely monitored market dynamics, influenced by various factors including overseas funds' activities. The Nikkei's performance hinged on reclaiming previous highs, signaling a potential shift in market sentiment.
Asia stocks down, yen slump keeps markets on intervention alert
Asian shares fell on inflation worries, pushing bond yields higher. The yen's decline raised intervention fears. The dollar surged against major currencies. Markets reacted to unexpected inflation hikes. Uncertainties in commodity markets added to the jittery mood.
Asia stocks down, yen slump keeps markets on intervention alert
Inflation concerns impact markets worldwide, driving bond yields up and Asian shares down. Currency markets watch as the yen weakens, prompting fears of intervention. Unexpected jumps in inflation in Australia and Canada add to market nerves before the Federal Reserve's upcoming data release.
What would Japanese intervention to boost a weak yen look like?
Amid market uncertainties and political pressures, Prime Minister Fumio Kishida considers intervening to stabilize the yen ahead of the ruling party leadership race. The effectiveness of intervention in addressing public concerns over the weak yen and rising living costs remains uncertain.
Battered yen pinned near multi-decade low amid resilient dollar
U.S. Treasury yields drive market dynamics as the yen weakens, impacting global currencies. Analysts await U.S. PCE data for potential Japanese intervention, while political uncertainties in Europe add to market volatility. Higher U.S. yields influence bond markets globally, affecting currencies like Sterling and Antipodean currencies against a strong dollar.
Yen slides to weakest since 1986, raising risk of intervention
The Japanese yen declined by up to 0.4%, reaching 160.39 against the dollar, surpassing the threshold that previously triggered market intervention by officials in April. The significant disparity in interest rates between Japan and the U.S. continues to exert pressure on the yen, despite efforts to curb its depreciation.
Dollar flirts with key 160 yen level as intervention risk looms
The yen near 160 per dollar kept traders alert for Japanese authorities' intervention. Bitcoin suffered losses due to outflows from exchange-traded funds (ETFs). The dollar edged higher at 159.64 yen, close to the level prompting a massive intervention by Tokyo in April-May.
Asia shares subdued as inflation, politics loom large
Asia shares subdued awaiting U.S. price data for inflation cues. Markets cautious of Japanese intervention as dollar tests 160 yen level. Geopolitical events like U.S. debate and French election add uncertainty.
Japan issues fresh warning against yen bears as currency slides
Japanese authorities, led by Masato Kanda, are prepared to address speculative and volatile movements in the currency market to protect the economy without altering market trends.
Govt weighs interventions to stabilise rising wheat prices
The government announced its intention to implement appropriate policy measures aimed at maintaining stable wheat prices for consumers across the country. Following a committee of ministers meeting chaired by Home Affairs and Cooperation Minister Amit Shah, the government instructed officials to closely monitor the prices of wheat. Official data indicates that prices of wheat and wheat flour have risen by as much as Rs 2 per kg compared to the previous year.
Rupee ends lower on jump in US bond yields, RBI intervention caps losses
The Indian rupee ended weaker on Monday, weighed down by a rise in U.S. bond yields, but likely intervention by the Reserve Bank of India (RBI) helped limit the currency's losses.
Rupee ends higher; RBI intervention, foreign banks' dollar sales help
The Indian rupee closed stronger on Wednesday, partially recovering from its slump in the previous session, aided by dollar sales from foreign banks and likely intervention from the Reserve Bank of India.
Gas needs a new pricing meter
What could future policy look like? Pricing policy needs to be simplified and streamlined with global norms. Ensuring linkage to rolling averages of global benchmarks like Brent or other global benchmarks, along the C Rangarajan committee recommendations, would sustain the balance between consumers and producers. This should be implemented alongside more uniform gas pricing. One price could be benchmarked for LNG imports, another for domestically produced gas from regular fields, and one higher price for more difficult fields like ultra-deep and high-temperature high-pressure fields.
Yen's relentless slide revives Japan's interest in structural reforms
Japanese policymakers are focusing on structural economic factors driving persistent yen declines, as market intervention has limited impact on the currency's broader slide.
India poised to surpass last year's wheat procurement record
Government agencies set to exceed last year's wheat procurement figure, with current purchases nearing 261 lakh tonnes. FCI officials confident total procurement will reach 270 lakh tonnes. Madhya Pradesh extends procurement period to May 31. Punjab and Haryana record higher purchases. Efforts to boost procurement in Uttar Pradesh as well.
China lays out 'historic' plans to prop up its realty market
Investors hoped the measures marked the beginning of more decisive government intervention to compensate for waning demand for new and old apartments, to slow down falling prices and to reduce a growing stock of unsold homes. Since the property market began its steep downturn in 2021, a string of developers have defaulted, leaving scores of idle construction sites behind, and sapping confidence in what had been the preferred savings instrument for the Chinese population.
New study challenges benefits of healthcare privatisation
A study published in The Lancet Public Health journal highlights the negative effects of healthcare privatisation, particularly in high-income countries like the US, Germany, Canada, and South Korea. The research, led by the University of Oxford, suggests that privatisation seldom improves the quality of care but is associated with higher profits. It challenges the notion that market competition and flexibility in privately-owned healthcare systems lead to better outcomes.
China unveils steps to stabilise crisis-hit property sector
China announced significant measures to stabilize the struggling property sector. The measures included allowing local governments to purchase apartments, easing mortgage rules, and committing to finishing incomplete homes. These efforts aim to address declining demand, falling prices, and a surplus of unsold properties, with the hope of reviving a sector that once contributed significantly to the economy.
Doing nothing could be the riskiest thing of all
The cost of “doing nothing” in markets can indeed be substantial, but that pales in comparison to the cost of complacency when the margin of safety erodes. And when a large section of the market participants adapt to surviving in a low margin of safety environment, wild swings when least expected become the norm.
Yen gives up ground vs dollar following surge on suspected intervention
The dollar was 0.9% higher at 155.98 yen as of 0100 GMT, retracing about half of its late Wednesday surge from around 157.55 to exactly 153 over a period of about 30 minutes.
Yen’s wild swings are just a taste of what’s to come
The plunge to 160 per dollar immediately filled news reports and social media across Japan. “We can’t let our guard down,” Iguchi called repeatedly as trading ensued. Other so-called red-line levels — 155 and 158 — had fallen with no pushback. Some were starting to ask if the authorities would ever act.
Markets wary of intervention as yen struggles at 155 level
Having traded in a tight range over the past few days, a buoyant dollar finally broke above the 155 yen level for the first time since 1990 in the previous session, and was last steady at 155.34 yen in early Asia trade.
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