Yentervention: World’s Only Defense Against The All-Mighty Dollar

Japan’s Ministry of Finance is the only major currency authority in the post-COVID era to fight back against USD strength via intervention - and win. Can they pull it off again?

Oct 23, 2023

∙ Paid

An hour from midnight in Tokyo on Tuesday October 3rd 2023, USDJPY finally reclaims the 150 handle- a price level that it had previously “enjoyed” for only 18 hours in October 2022 before getting shot down by Japanese government yentervention.

Minutes later at 11:11pm Japan time (10am EST), this happens:

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