Yen Falls for Two Weeks, Approaching 160 Mark, Risk of Forex Intervention Rises

On September 24, the yen fell for two consecutive weeks, once again approaching the 160 mark, raising the risk of foreign exchange intervention. Strategists pointed out that the 160 mark has become a test of Japan's tolerance for yen depreciation. Although the Bank of Japan accelerated its tightening cycle after the policy meeting on September 18, there are internal disagreements. Meanwhile, the U.S. seems to be moving towards a more hawkish monetary policy. Carol Kong, a currency strategist at the Commonwealth Bank of Australia, stated that if U.S. yields continue to rise, the dollar against the yen could soon break through 160. If this level is breached, it would increase the likelihood of official action from Japan, especially in light of recent reports that Japan has conducted currency checks.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.