Institución: La caída repentina y significativa del yen japonés, las autoridades japonesas sospechan que vuelven a intervenir.

Golden Finance report, May 6th, according to the American financial website investinglive, the USD/JPY dollar-yen exchange rate fell more than 100 points in the short term, down over 1% intraday, retreating below the 157.00 level. From a timing perspective, it seems to be so — today is a holiday in the Japanese market, and the previous two intervention attempts also occurred during the time window between the Asian trading session and the European opening. That said, the timing of the previous two interventions was closer to the moment when USD/JPY just broke through 157.00. And this time, USD/JPY rose close to 158.00 before a suspected intervention occurred. Although the Japanese Ministry of Finance has made multiple attempts, the effectiveness of interventions since last week has been weakening. Especially given that fundamental factors continue to overwhelmingly disadvantage the yen. So the question becomes, how much are Japanese authorities willing to spend on this issue to make interventions truly effective? Considering the current macroeconomic background, this is indeed a very tricky problem. Currently, the biggest hope Japanese officials have is that the US-Iran conflict can be resolved, thereby easing the pressure faced by the Japanese economy. Otherwise, they will continue to go against the huge tide, trying to persuade traders not to keep selling the yen. (Jin10)