Core Viewpoint - The Japanese yen outperformed other G-10 currencies following comments from Finance Minister Shunichi Suzuki, indicating the government's willingness to take bold actions if the yen's movement diverges from fundamentals [1][2]. Group 1: Yen Performance - The yen appreciated by 0.5% against the US dollar, reaching 156.28 yen per dollar, rebounding from a near one-month low after the Bank of Japan's interest rate decision [1][2]. - The US dollar has been declining against major currencies for the second consecutive day, contributing to the yen's rebound [1][2]. Group 2: Market Sentiment - Market participants are cautious about potential Japanese intervention in the currency market, especially after significant selling pressure on the yen [1][2]. - Hiroyuki Machida from ANZ noted that the yen's exchange rate reflects the overall weakness of the US dollar, alongside declining US Treasury yields [1][2]. Group 3: Monetary Policy Context - The Bank of Japan raised its policy interest rate to the highest level in 30 years, but Governor Kazuo Ueda did not provide clear guidance on future rate hikes, leading to the yen approaching levels that previously triggered central bank intervention [1][2]. - Chief Foreign Exchange Officer Jun Miura stated that appropriate measures will be taken to address excessive volatility in the foreign exchange market [1][2]. Group 4: Intervention Expectations - Historical experience suggests that if the yen falls below 158, market tension will increase sharply, with expectations of potential intervention rising [1][2].
日元领涨G-10货币兑美元 此前日本财务大臣称必要时可对汇率大胆行动
Xin Lang Cai Jing·2025-12-23 05:04