Canary in the coal mine? This is a warning signal.
The Yen is being destroyed against the USD.
This is NOT normal price action this is multi-year lows for the Yen.
Be careful out there.
Daily Chart
Canary in the coal mine? This is a warning signal.
The Yen is being destroyed against the USD.
This is NOT normal price action this is multi-year lows for the Yen.
Be careful out there.
Daily Chart
Jawboning on the yen depreciation from Japan's fin min.
Eamonn Sheridan
Eamonn Sheridan
Monday, 06/06/2022 | 20:38 GMT-4
0
The sharp fall in the yen is a concern for Japanese authorities. Recent episodes of sharp yen falls prompted such verbal interventions (jawboning). This time too.
Suzuki:
No comment on fx levels
Rapid yen moves inappropriate
Excess fx volatility , disorderly fx movements could have adverse effect on economy, financial stability
Japan's govt will respond appropriately to exchange rate following G7 agreement on currencies while keeping close communication with us, other authorities
Desirable for currencies to move stably reflecting economic fundamentals
No comment on Bank of Japan Governor Kuroda's remark that households are becoming accepting of price hikes
Yen had a huge drop since the weekend:
www.forexlive.com/ne...ppropriate-20220607/