{"id":10160,"date":"2026-01-26T05:29:27","date_gmt":"2026-01-26T05:29:27","guid":{"rendered":"https:\/\/diyhaven858.wasmer.app\/index.php\/yen-surges-on-intervention-talk\/"},"modified":"2026-01-26T05:29:27","modified_gmt":"2026-01-26T05:29:27","slug":"yen-surges-on-intervention-talk","status":"publish","type":"post","link":"https:\/\/diyhaven858.wasmer.app\/index.php\/yen-surges-on-intervention-talk\/","title":{"rendered":"Yen surges on intervention talk"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>Unlock the Editor\u2019s Digest for free<\/p>\n<p class=\"article__content-sign-up-topic-description o3-type-body-base\"><span>Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.<\/span><\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=76fd82ae-8546-49ef-9774-cef6397f131f\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>The yen surged to a two-month high against the US dollar on Monday, sparking speculation that Japanese authorities were intervening directly in the market to support the currency.<\/p>\n<p>The Japanese currency gained around 1.1 per cent to breach the \u00a5154 level against the dollar in the first hours of trading in Tokyo. The morning\u2019s gains followed a tumultuous trading session on Friday, when US authorities conducted \u201crate checks\u201d of market participants, a move seen as a possible precursor to intervention. It traded at around \u00a5159.14 against the dollar on Friday before intervention rumours.<\/p>\n<figure id=\"ogqhecjj\" class=\"n-content-image n-content-image--full\" data-component=\"image-set\"><picture><source media=\"(min-width: 700px)\" srcset=\"https:\/\/images.ft.com\/v3\/image\/raw\/ftcms%3A1e4c1e70-a620-4d61-abbb-816be1c11514?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=700&amp;dpr=1 1x,https:\/\/images.ft.com\/v3\/image\/raw\/ftcms%3A1e4c1e70-a620-4d61-abbb-816be1c11514?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=700&amp;dpr=2 2x,https:\/\/images.ft.com\/v3\/image\/raw\/ftcms%3A1e4c1e70-a620-4d61-abbb-816be1c11514?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=700&amp;dpr=3 3x,https:\/\/images.ft.com\/v3\/image\/raw\/ftcms%3A1e4c1e70-a620-4d61-abbb-816be1c11514?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=700&amp;dpr=4 4x,https:\/\/images.ft.com\/v3\/image\/raw\/ftcms%3A1e4c1e70-a620-4d61-abbb-816be1c11514?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=700&amp;dpr=5 5x\" width=\"3500\" height=\"2500\"\/><source media=\"(max-width: 490px)\" srcset=\"https:\/\/images.ft.com\/v3\/image\/raw\/ftcms%3Afb120dfc-ca90-4efc-95d9-23cd5f5c8b9b?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=490&amp;dpr=1 1x,https:\/\/images.ft.com\/v3\/image\/raw\/ftcms%3Afb120dfc-ca90-4efc-95d9-23cd5f5c8b9b?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=490&amp;dpr=2 2x,https:\/\/images.ft.com\/v3\/image\/raw\/ftcms%3Afb120dfc-ca90-4efc-95d9-23cd5f5c8b9b?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=490&amp;dpr=3 3x\" width=\"1500\" height=\"2000\"\/><img decoding=\"async\" src=\"https:\/\/images.ft.com\/v3\/image\/raw\/https%3A%2F%2Fd6c748xw2pzm8.cloudfront.net%2Fprod%2F0e251100-fa60-11f0-b1d1-8304d3d20c99-standard.png?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=700&amp;dpr=1\" alt=\"Line chart of \u00a5 per $ (inverted scale) showing Japan\u2019s yen surges against the dollar\" data-image-type=\"graphic\" width=\"3500\" height=\"2500\" loading=\"lazy\"\/><\/picture><\/figure>\n<p>Yujiro Goto, chief foreign exchange strategist at Nomura, said that, while there was not yet data to confirm market rumours, it appeared \u201chighly likely\u201d that the Japanese authorities had directly intervened in the market on Monday, given that currency moves had been larger than would normally be expected for purely verbal intervention.<\/p>\n<p>He said such a sharp fall of the dollar would normally trigger \u201cdip buying\u201d by investors. \u201cWithout intervention, you would probably have seen the dollar recovering this morning, so I would not be surprised if there had been intervention by Japan,\u201d said Goto.<\/p>\n<p>The Japanese last intervened directly in foreign exchange markets on four occasions in 2024, buying almost $100bn worth of yen to support the currency as it slipped to a rate of around \u00a5160 against the dollar.<\/p>\n<p>The yen\u2019s rise accelerated after Atsushi Mimura, Japan\u2019s currency chief at the finance ministry, told reporters on Monday: \u201cWe will continue responding appropriately against foreign exchange moves, working closely with US authorities as needed.\u201d<\/p>\n<p>His comments followed remarks by Japan\u2019s Prime Minister Sanae Takaichi, who said on Sunday that her government would take \u201call necessary measures to address speculative and highly abnormal movements\u201d.<\/p>\n<p>Trader said the market had reacted to the idea that the US clearly shared Japan\u2019s concerns over the yen\u2019s prolonged weakness, reversing what had been more than three months of steady yen declines.<\/p>\n<p>\u201cPerception is key. If the market perception is that Japan is acting in co-ordination with the US, that makes verbal intervention much more effective,\u201d said Benjamin Shatil, senior economist at JPMorgan in Tokyo. \u201cThis may have been enough to move the market.\u201d <\/p>\n<p>Japanese stocks fell heavily on Monday, propelled by the yen\u2019s strength and concerns over its likely effect on corporate profits. A stronger yen reduces foreign currency earnings for Japanese exporters. The Nikkei 225 index shed 1.7 per cent in morning trading.\u00a0<\/p>\n<p>Shrikant Kale, a strategist at Jefferies, said: \u201cToday\u2019s trading is a knee-jerk reaction. It has always been the case when you see a massive yen movement. The number one request I\u2019ve received in the last 24 hours is \u2018Just give me the names of companies which are positively and negatively correlated with the yen\u2019.\u201d<\/p>\n<\/div>\n<p><br \/>\n<br \/><a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Unlock the Editor\u2019s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The yen surged to a two-month high against the US dollar on Monday, sparking speculation that Japanese authorities were intervening directly in the market to support the currency. The Japanese currency gained around 1.1 per [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10161,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_daextam_enable_autolinks":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[10],"tags":[],"class_list":["post-10160","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/diyhaven858.wasmer.app\/wp-content\/uploads\/2026\/01\/52c32f68-337a-42d2-84a0-65accd8de40a.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/diyhaven858.wasmer.app\/index.php\/wp-json\/wp\/v2\/posts\/10160","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/diyhaven858.wasmer.app\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/diyhaven858.wasmer.app\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/diyhaven858.wasmer.app\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/diyhaven858.wasmer.app\/index.php\/wp-json\/wp\/v2\/comments?post=10160"}],"version-history":[{"count":0,"href":"https:\/\/diyhaven858.wasmer.app\/index.php\/wp-json\/wp\/v2\/posts\/10160\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/diyhaven858.wasmer.app\/index.php\/wp-json\/wp\/v2\/media\/10161"}],"wp:attachment":[{"href":"https:\/\/diyhaven858.wasmer.app\/index.php\/wp-json\/wp\/v2\/media?parent=10160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/diyhaven858.wasmer.app\/index.php\/wp-json\/wp\/v2\/categories?post=10160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/diyhaven858.wasmer.app\/index.php\/wp-json\/wp\/v2\/tags?post=10160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}