Home Business BoJ intervenes on the Yen, eToro: significant move, but useless

BoJ intervenes on the Yen, eToro: significant move, but useless

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Regarding the Bank of Japan’s decision to intervene on the yen, “The first Japanese currency intervention to defend the yen in almost a quarter of a century is a significant step, but ultimately destined to fail” said Ben Laidler, eToro’s global markets strategist. . “The yen was the most dramatic performing currency this year, losing more than 20% of its value against the dollar. But this was driven by fundamentals, with Japanese interest rates at their lowest and economic growth slow. As long as the Fed remains on a war footing regarding rate hikes, any intervention on the yen could only slow down, not stop, its run ”.

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