{"id":245,"date":"2022-10-16T08:14:40","date_gmt":"2022-10-16T08:14:40","guid":{"rendered":"http:\/\/live-script.xyz\/japanese-yen-plunges-to-32-year-low-against-us-dollar-another-intervention-by-authorities-expected\/"},"modified":"2022-10-16T08:14:40","modified_gmt":"2022-10-16T08:14:40","slug":"japanese-yen-plunges-to-32-year-low-against-us-dollar-another-intervention-by-authorities-expected","status":"publish","type":"post","link":"https:\/\/live-script.xyz\/japanese-yen-plunges-to-32-year-low-against-us-dollar-another-intervention-by-authorities-expected\/","title":{"rendered":"Japanese Yen Plunges to 32-Year Low Against US Dollar \u2014 Another Intervention by Authorities Expected"},"content":{"rendered":"<p><strong>The Japanese yen\u2019s exchange rate versus the U.S. dollar recently plunged to its lowest rate in 32 years \u2014 147.66 JPY per dollar. The yen\u2019s latest fall comes less than a month after its slip in September prompted authorities to enter foreign exchange markets for the first time since 1998. <\/strong><\/p>\n<h2>Gap Between US Treasuries and Japanese Government Bonds Widening<\/h2>\n<p>The Japanese yen fell to a rate of 147.66 per dollar, its lowest exchange rate versus the U.S. dollar in 32 years, a report has said. The yen\u2019s latest record-breaking fall came after official figures from the United States showed that prices had gone up faster than anticipated. The U.S. Federal Reserve has been using rate hikes to tame inflation but these have in turn caused the dollar to strengthen against other global currencies.<\/p>\n<p>However, unlike other central banks that have followed in the footsteps of the U.S. Federal Reserve and raised interest rates, the Bank of Japan (BOJ) is said to have <a href=\"https:\/\/asia.nikkei.com\/Business\/Markets\/Yen-weakens-to-32-year-low-declining-past-147-per-dollar\">maintained<\/a> an \u201cultraloose monetary policy.\u201d Investors have in turn responded to the resulting gap between U.S. Treasuries and Japanese government bonds by selling the yen.<\/p>\n<p>As <a href=\"https:\/\/news.bitcoin.com\/bank-of-japan-intervenes-in-foreign-exchange-markets-after-yen-slips-to-24-year-low\/\">reported<\/a> by Bitcoin.com News in September, when the dollar\u2019s rise caused the yen to slip to a 24-year low versus the greenback, the BOJ responded by intervening in foreign exchange markets for the first time since 1998. According to a BBC <a href=\"https:\/\/www.bbc.com\/news\/business-63252034\">report<\/a>, authorities in Japan are again likely to respond to the yen\u2019s latest plunge with another intervention.<\/p>\n<p>The report quotes the Japanese Finance Minister Shunichi Suzuki who suggests that \u201cappropriate action\u201d will be taken to stop the yen from slipping further.<\/p>\n<p>\u201cWe cannot tolerate excessive volatility in the currency market driven by speculative moves. We\u2019re watching currency moves with a strong sense of urgency,\u201d Suzuki reportedly said.<\/p>\n\n<h2>Preventing an \u2018Adverse Financial Amplification\u2019<\/h2>\n<p>In late September 2022, when the Japanese currency fell against USD by more than two yen in one day, the Japanese authorities responded by spending nearly $20 billion. While the intervention did help to stabilize the yen, some analysts still questioned the sustainability of such a solution.<\/p>\n<p>However, in a new blog post, the International Monetary Fund (IMF) suggested that a temporary foreign exchange intervention may be the most appropriate solution. As explained in the blog, such a foreign exchange intervention can \u201chelp prevent adverse financial amplification if a large depreciation increases financial stability risks, such as corporate defaults, due to mismatches.\u201d<\/p>\n<p>In addition to helping to diminish the threat to financial stability, foreign exchange intervention could also potentially aid a country\u2019s monetary policy, notes the IMF.<\/p>\n<p>\u201cFinally, temporary intervention can also support monetary policy in rare circumstances where a large exchange rate depreciation could de-anchor inflation expectations, and monetary policy alone cannot restore price stability,\u201d the IMF blog explained.<\/p>\n<p><em><strong>What are your thoughts on this story? Let us know what you think in the comments section below. <\/strong><\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>The Japanese yen\u2019s exchange rate versus the U.S. dollar recently plunged to its lowest rate in 32 years \u2014 147.66 JPY per dollar. The yen\u2019s latest fall comes less than a month after its slip in September prompted authorities to enter foreign exchange markets for the first time since 1998. Gap Between US Treasuries and [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Japanese Yen Plunges to 32-Year Low Against US Dollar \u2014 Another Intervention by Authorities Expected - Latest Cryptocurrency &amp; blockchain News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/live-script.xyz\/japanese-yen-plunges-to-32-year-low-against-us-dollar-another-intervention-by-authorities-expected\/\" \/>\n<meta property=\"og:locale\" content=\"ko_KR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Japanese Yen Plunges to 32-Year Low Against US Dollar \u2014 Another Intervention by Authorities Expected - Latest Cryptocurrency &amp; blockchain News\" \/>\n<meta property=\"og:description\" content=\"The Japanese yen\u2019s exchange rate versus the U.S. dollar recently plunged to its lowest rate in 32 years \u2014 147.66 JPY per dollar. The yen\u2019s latest fall comes less than a month after its slip in September prompted authorities to enter foreign exchange markets for the first time since 1998. 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