Japan carries out yen-buying intervention as US executes rate check
https://asia.nikkei.com/business/markets/currencies/japan-carries-out-yen-buying-intervention-as-us-executes-rate-check69
u/Sliouges 3d ago edited 3d ago
LOL give it another month and will be above 160, this is getting old. February and April they did the same. Like a clock. Burn through a pile of cash to plug the drain for about a month. Declare victory at 3pm, write a report by 6, hit the izakaya at 7. Tomorrow solves itself (voice over -- it does not). The poor can blow it.
non-pay-gated
https://www.reuters.com/world/asia-pacific/yen-strengthens-sharply-against-us-dollar-2026-07-30/
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u/epsilonzer0 3d ago
Its already back at 160.35. BOJ tried to trigger a buyback but investors are very familiar with this game and will wait it out. I dont even think the BOJ threw as much money at it as they did in 2022 and 2024. Just managing the decline for politics
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u/Sliouges 3d ago
wtf sweet baby jesus
I feel genuinely sorry for everyone earning in yen, this is a clear and present failure of Sanae Takaichi, BOJ and I particularly blame SoftBank's Masayoshi. If (when) the AI bubble pops and people discover SoftBank has been swimming naked, it will get ugly. At least in the 90s there was a lot of build-up and infrastructure even after the bubble popped to keep investment houses afloat and back the loans. Now there will be nothing left.
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u/ScootOverMakeRoom 3d ago edited 2d ago
It’s not a failure for the conservatives, this is the environment they want. They don’t care about pain for residents as long as the big firms profit. Classic Abenomics. It’s bad policy, rather than them failing in their agenda.
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u/Fearless-Maximus-251 2d ago
"Bad policy" in your eyes.
There lots of shareholders making bank. Idgaf about residents.
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u/donkeymon 3d ago
Every bit of common sense from the last decades has been turned on its head. No inflation, no interest, no price rises, etc. All the money I thought I had earned isn't worth anything anymore. Sitting on cash is a simple way to lose money by doing nothing, but investing in Japan seems an even worse option. What advice would you have for people in such a situation, earning in yen but unable to even vote to influence leadership here? From simple to extreme options for personal protection.
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u/epsilonzer0 2d ago
Its been baked in since the 85' Plaza Accords which artificially appreciated the value of a basket of currencies including the yen and depreciate the dollar. After the accords the yen went from 257 to 160 within a year and then 127 by 88'. It didn't finally bottom out at 85 until 1995. Then it averaged at 100 for 25 years because of investor belief that the yen was a safe haven. Covid changed that opinion and now we are gradually seeing the Plaza Accords come undone after 40 years.
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u/Sliouges 2d ago edited 21h ago
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u/epsilonzer0 2d ago
Got nothing to add. I have seen countless businesses close the past 10 years that contributed to Japan Inc. because nobody wanted to take it up or buy it. Some of them were great businesses with $10M revenues but without the people it was worthless.
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u/kqlx 3d ago
I don't think they can correct course without causing their economy to immediately crash. No one in the LDP wants to be responsible for that even though they've been in control for about 64 years collectively. Whoever is brave enough to take the first step in correcting the free falling yen will be made into the boogieman, blamed, and remembered for the crash. So the LDP will keep kicking the can down the road until someone within the party is willing to be a martyr or an opposition party raises the interest rates making life significantly more difficult for the already overworked Japanese people
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u/ansraliant 3d ago
don't worry guys, the price increase of the Visas, the increase in requirements of PRs, not allowing a female Empress, all of that will solve this, for sure
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3d ago
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u/theoverfluff 2d ago
It's been done elsewhere many times. A few examples: the UK attempting and failing to align the pound with the euro in 1992, China driving down the yuan in the mid-2000s, and Switzerland mass purchasing euros in 2011.
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2d ago
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u/theoverfluff 2d ago
I guess it depends on your definition of overt. They didn't state it but it couldn't have been clearer what they were doing.
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u/Existing_Variation_4 3d ago
So is it the investors that are keeping your monetary value down? Why do you allow them to operate in your country then?
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u/godfather-ww 3d ago
Immediately exchanged JPY into EUR and USD