Updated
Updated · MarketWatch · May 5
Traders push USD/JPY to 157.70 as yen weakens
Updated
Updated · MarketWatch · May 5

Traders push USD/JPY to 157.70 as yen weakens

12 articles · Updated · MarketWatch · May 5
  • Tuesday's move topped 157.30 despite estimates that Japan's Ministry of Finance spent about $35bn last Thursday to lift the yen roughly 3%.
  • Market action also pointed to smaller follow-up interventions near 157.30, but dollar buyers and yen sellers quickly rebuilt positions, blunting any sustained rebound in Japan's currency.
  • The renewed weakness suggests authorities' efforts are losing traction and could keep supporting global liquidity, as investors borrow yen to fund higher-yielding trades including US Big Tech.
Is Japan's intervention merely delaying the collapse of the global 'yen carry trade' time bomb?
After its $35B intervention failed, what unconventional weapons can Japan use to defend the yen?