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Japan can intervene twice more before November under IMF rules, official notes

The Japan Times·Ruth Carson·27 days ago
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#yen#japaneseeconomy#boj#satsukikatayama#iran#intervention
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A Finance Ministry official cited an International Monetary Fund rule on Monday noting that three days of intervention count as a single market operation. | BLOOMBERG Japan can conduct only two more sessions of three-day interventions by November if it wants to maintain its status of having a freely floating exchange rate, based on International Monetary Fund (IMF) guidelines. An official at Japan's Finance Ministry cited an IMF rule on Monday noting that three days of intervention count as a single market operation. The comments came after the yen surged last Thursday following reported intervention by the authorities, and also saw a number of intraday rallies during days that followed. Still, market participants are largely of the view that the yen will resume its weakening trend with or without official intervention. The Iran war is negative for Japan's energy-import reliant economy and the still-wide interest-rate differentials with the U.S.…

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