Yen surges to six-month high amid speculation of BOJ rate hikes and intervention

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Yen surges to six-month high amid speculation of BOJ rate hikes and intervention

⚡ Markets: A sustained yen rally unwinds profitable carry trades, causing volatility across asset classes. Japan's selling of US Treasuries puts upward pressure on US yields. Bullish for JPY, bearish for USDJPY and Japanese exporters (Nikkei 225).USDJPYUS TreasuriesNikkei 225

The Japanese yen strengthened sharply against the US dollar, reaching its highest level since February. The move is attributed to growing expectations of a hawkish shift from the Bank of Japan and reports that the Ministry of Finance sold nearly $90 billion in US Treasuries in August to fund its currency interventions.

West MSM: noneWest Right 1Regional 3Financial press 3Google Non-West 13 countries

8 sources across the spectrum

West RightZeroHedge — Japan Sold Almost $90 Billion In Treasuries To Fund Record Yen Intervention

RegionalJapan Times — Yen rises to highest since February, topping intervention rally

Financial pressNikkei Asia — Yen makes sudden jump to 154 range against dollar

RegionalJapan Times — Bessent pushes BOJ as he signals end of Abenomics

Financial pressFinancial Times — Yen surges to 6-month high as traders stay alert for signs of intervention

Financial pressCNBC — Japan's foreign reserves drop by a record $80 billion in August following yen intervention

RegionalJapan Times — Japan likely sold Treasurys to fund record yen intervention

Google Non-WestGoogle News (Japan) — 欧州外為市場＝円7カ月ぶり高値、日銀利上げ観測でドルは米ＣＰＩ待ち

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