TODAY'S MARKET INTELLIGENCE
US-Japan Joint Intervention Boosts Yen, Unexpectedly Revives Carry Trades
English summary
On the evening of July 30 Beijing time, the US and Japan conducted joint FX intervention. The yen rebounded briefly but weakened again. MoF data shows investors took advantage of the yen's strength to buy overseas assets, reigniting carry trades. Analysts say intervention only alleviates short-term pressure and cannot eliminate the underlying trading motive driven by the US-Japan yield gap.
The English text is machine translated and may require verification against the Chinese version.
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