Markets & outlook · Podcast

What the US-Japan Currency Intervention Means for the Yen, Rates, and the Dollar

It offers a short briefing on a cross-border FX event and its links to US rates and the dollar, framed by a senior FX strategist and a global head of FX options trading.

Streams from the publisher’s own feed. Nothing loads until you press play.27 min

Summary

By the markets & outlook desk

This episode of Goldman Sachs' Exchanges podcast covers the coordinated US-Japan currency market intervention, described as the biggest in 15 years, and why the US joined the action. Karen Fishman and Praneet Shah discuss why the yen still appears undervalued and whether another intervention might follow.

Japan's operation was estimated at up to $85 billion over July 30 and July 31, its largest two-day intervention on record outside October 2011.
The US leg was much smaller but pushed the yen further by signaling US willingness to help.
Washington's involvement was likely aimed at limiting volatility in US markets, with timing coinciding with some volatility in US interest rates.
Intervention may buy time, but longer-term policy measures could help convince Japanese investors to shift back toward Japanese assets.

Similar items

Same topic

Will Danoff: What I Got Wrong About Tesla (The Long View Excerpt)	Morningstar	4 min	Oct 31
Fisher Investments’ Founder, Ken Fisher, Debunks: “A Strong Dollar Is Super”	Fisher Investments	12 min	Oct 31
Are Energy Stocks Still Cheap?	The Compound (Ritholtz Wealth)	2 min	Oct 31
What Happens When AI Spend Peaks?	Goldman Sachs	15 min	Oct 31
Equities Tricky, Fixed Income Treats During Busy Fed Week	DoubleLine Capital	31 min	Oct 30