Japan’s strength produces a weak yen
Currency meddling will prove futile
It does not require a financial detective to work out what is going on. Three sudden surges in the value of the yen, on July 11th, 12th and 17th, have raised suspicions that the Bank of Japan (BoJ) is again intervening in currency markets (see chart). The bursts have left the currency, at ¥156 to the dollar, up by 4% against the greenback and marginally above the 37-year lows it reached earlier this month.
Explore more
This article appeared in the Finance & economics section of the print edition under the headline “Currency paradox”
Finance & economics July 20th 2024
- Stocks are on an astonishing run. Yet threats lurk
- Why investors have fallen in love with small American firms
- At last, Wall Street has something to cheer
- Japan’s strength produces a weak yen
- China’s leaders face miserable economic-growth figures
- YIMBY cities show how to build homes and contain rents
- Americans are wrong to wish for an era of stable bipartisanship
From the July 20th 2024 edition
Discover stories from this section and more in the list of contents
Explore the editionMore from Finance and economics
China’s last boomtowns show rapid growth is still possible
All it takes is for the state to work with the market
What the war on tourism gets wrong
Visitors are a boon, if managed wisely
Why investors are unwise to bet on elections
Turning a profit from political news is a lot harder than it looks
Revisiting the work of Donald Harris, father of Kamala
The combative Marxist economist focused on questions related to growth
Donald Trump wants a weaker dollar. What are his options?
All come with their own drawbacks
Why is Xi Jinping building secret commodity stockpiles?
Vast new holdings of grain, natural gas and oil suggest trouble ahead