Japan: $100 Billion Yen Defense Looms at USD/JPY 162.66
Japan may need $100B to defend yen after USD/JPY hits 162.66; prior $72-73B interventions failed amid BOJ rate hike yen carry trade unwind impact on crypto.
SourceAnalysis
Japan may need to spend $100 billion defending the yen after USD/JPY reached 162.66, its highest level in 40 years, following the failure of $72-73 billion interventions in late April and early May that could not offset higher US yields fueling the yen carry trade unwind impact on crypto and BTC assets, as seen in the August 2024 BOJ rate hike that triggered sharp drops across global markets.
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