Countries could intervene again to help the yen

first_img Show Comments ▼ FOREIGN exchange traders will be closely watching the yen’s movement today following the G7’s dramatic intervention to stem the currency’s gains late last week. Traders are on alert for further central bank moves to ease any runaway increases in the yen, which if left unchecked would make Japan’s exports more expensive and put further pressure on its economy. Friday’s move by the G7, in which the countries poured in an estimated $25bn, was the first joint intervention in currency markets since the G7 came to the aid of the newly launched euro in 2000.Some analysts feared that a massive repatriation of Japanese money to pay for the repairs needed would put upward pressure on the yen. Meanwhile, Societe Generale analysts said in a note yesterday they were confident in the Japanese economy’s eventual recovery. “We still find the most likely outcome to be a V-shaped profile with the upcoming data seeing a very sharp decline followed by a sharp acceleration as reconstruction and the replacement of consumer durables gets on the way,” they said.Tokyo’s markets remain closed for a holiday today. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusBetterBe20 Stunning Female AthletesBetterBeDrivepedia20 Of The Most Underrated Vintage CarsDrivepedia KCS-content Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap Tags: NULLcenter_img whatsapp whatsapp Share Sunday 20 March 2011 11:19 pm Countries could intervene again to help the yen last_img

Leave a Reply

Your email address will not be published. Required fields are marked *