yen

Bank of Japan raised rates to 1.25%, a 31-year high, but the yen weakened toward ¥158/$1 without the hawkish forward guidance needed to support the currency ahead of holiday liquidity drain.

The Bank of Japan raised rates for the first time in 31 years, but dovish guidance and internal dissent sent the yen lower as traders priced a slower tightening cycle.

Tokyo's record monthly intervention, including rare U.S. coordination, forces liquidation of $87.8 billion in foreign securities, mostly U.S. Treasuries.

Treasury Secretary Scott Bessent has made U.S. currency intervention conditional on Bank of Japan tightening, converting Japan's domestic policy into a bilateral obligation with real market consequences.

One week after joint U.S.-Japan action, the yen has surrendered half its rally as carry-trade incentives and widening Treasury-JGB spreads reassert fundamental selling pressure

Two rounds of intervention have failed to hold the line; the Treasury-JGB spread is the structural force Tokyo cannot unilaterally close.

Elevated corporate goods prices and a weak yen are pushing the Bank of Japan toward a September rate increase, analysts say

Traders shift to derivatives for yen exposure before Wednesday's inflation data as U.S.-Iran deal uncertainty keeps currency and energy markets on edge.

Japanese authorities have spent over $100 billion defending the yen, including a rare July 28 joint intervention with the U.S., yet the currency continues depreciating toward 160 per dollar.

The yen has surrendered nearly half its intervention-driven gains; the Reserve Bank of Australia held its cash rate steady but left the door open to further hikes.

Tokyo and Washington jointly pushed the yen from 163 to 157 against the dollar, but analysts warn the move treats symptoms rather than the rate-differential cause.

Treasury Secretary Scott Bessent backs Japan's use of the FIMA Repo Facility, giving Tokyo dollar liquidity for yen intervention without liquidating Treasury holdings.

The U.S. Treasury's participation in last week's yen-buying operation marks a departure from Washington's long-standing non-intervention stance.

Treasury Secretary Scott Bessent and the Federal Reserve coordinated with Tokyo to reverse the yen's depreciation, pushing the currency up 4.5 percent against the dollar.

Eighteen straight months above the 2 percent target have the Bank of Japan set to revise its inflation outlook higher and flag further tightening.

Manufacturing output and new orders expanded for a third straight month, giving the Bank of Japan firmer ground to steepen the JGB curve.

Foreign central bank holdings of U.S. Treasuries fell for the first time in four weeks amid suspected Japanese currency intervention

Japan's Chief Cabinet Secretary's non-committal stance on currency intervention reinforces market uncertainty, prompting a cautious tone across global fixed income and equity markets.