“Teachers are there to teach facts to students”: in the United Kingdom, the government wants to backtrack on gender theory in schools
Construmat grows by 50% and focuses on sustainability and innovation
War in Ukraine: one week later, where is the Russian offensive in Kharkiv?
An American tourist steals a mug of beer from a tavern in Munich and admits it...50 years later
Suicide attempts and self-harm on the rise among young girls
In Europe, 10,000 people die every day from cardiovascular disease
Brussels raises Spanish GDP forecasts to 2.1% and foresees a deficit of 3% in 2024
Inflation rises to 3.3% in April due to gas and food
Paris 2024 Olympic Games: will Le Coq sportif be on time to equip the athletes?
OpenAI disbands artificial intelligence risk team
Tax return: it's high time to look into the issue, here's how to get free help
“No one supports me”: influencer Poupette Kenza defends herself after her anti-Semitic remarks
The big classic family arrives in Six-Fours-les-Plages
The eye of the INA: In Cannes, when scandals did not create the buzz
Twelve days in the life of Céline: May 27, 1894, the sad child
Reina Sofia Museum changes name of lecture series criticized by Israeli Embassy
Omoda 7, another Chinese car that could be manufactured in Spain
BYD chooses CA Auto Bank as financial partner in Spain
Tesla and Baidu sign key agreement to boost development of autonomous driving
Skoda Kodiaq 2024: a 'beast' plug-in hybrid SUV
The home mortgage firm rises 3.8% in February and the average interest moderates to 3.33%
This is how housing prices have changed in Spain in the last decade
The home mortgage firm drops 10% in January and interest soars to 3.46%
The jewel of the Rocío de Nagüeles urbanization: a dream villa in Marbella
New Caledonia: Zemmour accuses Le Pen of “giving in to the thugs and looters”
Europeans: between the RN and the “euro-gagas”, the communist Léon Deffontaines dreams of breaking through to the left
Europeans: professor threatened with death Didier Lemaire shows his support for François-Xavier Bellamy
LFI: Manon Aubry places social issues at the center of her European campaign
These French cities that will boycott the World Cup in Qatar
Boxing: Why Fury-Usyk is the most anticipated heavyweight fight in 25 years
MMA: “Cédric Doumbé still has his hype, we saw it this evening”, the French fighter (very) ambitious for the future
NBA: Indiana calms the New York Knicks and equalizes
Olympic Games 2024: Antoine Dupont as a superstar and a great atmosphere in Toulouse for the flame
The yen soared on Wednesday shortly before 9:00 p.m. GMT, briefly gaining more than 3% against the dollar before falling again, leading to further speculation about possible intervention by Japanese authorities to support their currency. This brutal movement, which brought the Japanese currency up to 153.04 yen per dollar, occurred a few minutes before 9:00 p.m. GMT, the time at which the closing prices of the day are set. Around 00:30 GMT on Thursday, however, the Japanese currency had already fallen to 155.88 yen per dollar.
The yen had already experienced a similar rebound on Monday, which was seen as the result of an initiative by Japan to stop the slide of its currency. Weakened by a very accommodating monetary policy of the Bank of Japan (BoJ), the archipelago's currency fell on Monday to 160.17 yen per dollar, its lowest level in 34 years, before recovering.
“Many conclude that this is an intervention” by the Japanese authorities to defend their currency, Marc Chandler of Bannockburn Global Forex reacted on Wednesday after the collapse of the yen. “And she seems more aggressive than Monday.” The Japanese authorities do not traditionally communicate during an intervention, and only provide information several days or even weeks later. They had acted in 2022, successfully, once in September and twice in October, putting more than 60 billion dollars on the table to strengthen their currency.
In addition to direct intervention in the foreign exchange market, a country can raise its rates to make them more attractive to foreign investors, which helps to stimulate its currency. In the case of economies poor in natural resources and raw materials, which is the case of Japan, central bankers may be encouraged to act to prevent currency depreciation from causing import prices to soar and boosting inflation. . But during his press conference on Friday, BoJ Governor Kazuo Ueda said that the effect of the current weakness of the yen on inflation was "not significant" for the moment, thus ruling out , in fact, an increase in the key rate to revive the currency of the archipelago.
