Yen Plummets to Multi-Year Lows, Nearing Intervention Threshold

Important Information

You are visiting the website that is operated by Ultima Markets Ltd, a licensed investment firm by the Financial Services Commission “FSC” of Mauritius, under license number GB 23201593. Please be advised that Ultima Markets Ltd does not have legal entities in the European Union.

If you wish to open an account in an EU investment firm and protected by EU laws, you will be redirected to Ultima Markets Cyprus Ltd (the “CIF”), a Cyprus investment firm duly licensed and regulated by the Cyprus Securities and Exchange Commission with license number 426/23.

CONTINUE
(Proceed to the Website of the CIF)

Yen Plummets to Multi-Year Lows, Nearing Intervention Threshold

TOPICS

Tags: BOJ, Japan, USDJPY, Yen

marketing

June 25, 2024 at 11:28 am

The Japanese yen weakened to around 159.40 per dollar, nearing the 160 level that prompted market intervention by authorities in late April. In response, Japan’s top currency diplomat Masato Kanda stated the government’s readiness to act against speculative currency movements. Concurrently, the US Treasury added Japan to a watchlist for potential currency manipulation.

These developments occurred against the backdrop of the Bank of Japan’s recent policy decision. The central bank maintained its massive bond purchasing program, promising to release a plan for winding down these purchases at its July meeting.

Meanwhile, Japan’s economic indicators showed mixed signals. The annual headline inflation rate rose to 2.8% in May from 2.5% in April, reaching its highest level since February. Although the core inflation rate also increased from 2.2% to 2.5%, it fell short of the forecasted 2.6%.

(USDJPY Weekly Chart)

Disclaimer

Comments, news, research, analysis, price, and all information contained in the article only serve as general information for readers and do not suggest any advice. Ultima Markets has taken reasonable measures to provide up-to-date information, but cannot guarantee accuracy, and may modify without notice. Ultima Markets will not be responsible for any loss incurred due to the application of the information provided.

marketing

See Full Bio

Why Trade Metals & Commodities with Ultima Markets?

Ultima Markets provides the foremost competitive cost and exchange environment for prevalent commodities worldwide.

Start Trading

Monitoring the market on the go
Markets are susceptible to changes in supply and demand
Attractive to investors only interested in price speculation
Deep and diverse liquidity with no hidden fees
No dealing desk and no requotes
Fast execution via Equinix NY4 server

Join the ultimate trading ecosystem

See all Markets Quick Start

LEGAL

Legal Documents

CONTACT US

[email protected]

Ultima Markets is a member of The Financial Commission, an international independent body responsible for resolving disputes in the Forex and CFD markets.

All clients of Ultima Markets are protected under insurance coverage provided by Willis Towers Watson (WTW), a global insurance brokerage established in 1828, with claims eligibility up to US$1,000,000 per account.

TRADE WITH US

RISK DISCLOSURE

Risk Warning: Trading Forex and CFDs carries the risk of losing substantially more than your initial investment and should only be traded with money you can afford to lose. You do not own or have any rights to the assets that underlying the derivatives (such as the right to receive dividend payments). Ensure you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. Please consider our legal documents and ensure that you fully understand the risks before you make any trading decisions.

General Advice Warning: The information on this website is a general nature only and any advice has been prepared without taking account of your objectives, financial situation or needs. Accordingly, before acting on the advice, you should consider the appropriateness of any advice having regard to your objectives, financial situation and needs, and after considering the legal documents.

Regional Restrictions:This information or devices on this website is not directed or offered to residents of certain jurisdictions such as the United States, North Korea etc. For more information, please contact our customer support team.

Ultima Markets, a trading name of Ultima Markets Ltd, is authorized and regulated by the Financial Services Commission "FSC" of Mauritius as an Investment Dealer (Full-Service Dealer, excluding Underwriting) (license No. GB 23201593). The registered office address: 2nd Floor, The Catalyst, 40 Silicon Avenue, Ebene Cybercity, 72201, Mauritius.

HuaPrime EU Ltd, registered number HE423188, and with a business address at Georgiou Griva Digeni 122A, Kallinicos Court, Shop 1—Upper level, Neapolis, 3101 Limassol, Cyprus, is regulated by the Cyprus Securities and Exchange Commission, which has CIF license number 426/23.

Messenger

Continue on Messenger

Take the conversation to your Messenger account. You can return anytime.

Scan the QR code and then send the message that appears in your Messenger.

Open Messenger on this device.
Instagram

Continue on Instagram

Take the conversation to your Instagram account. You can return anytime.

Scan the QR code to open Instagram. Follow @ultima_markets to send a DM.

Open Instagram on this device.
Live Chat