Yen weakens past 160 per dollar after Jackson Hole, raising intervention concerns
Following the Jackson Hole symposium, the Japanese yen weakened with USD/JPY crossing back above 160, prompting commentary that FX intervention cannot succeed without supporting monetary policy and that long-term JGB yields in Japan must rise to save the yen.
Detected & updated continuously · Source: Nebula
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@robin_j_brooks
The big loser at this year's Jackson Hole is the Yen, with $/JPY crossing back above 160. The one thing we know for sure is that FX intervention cannot work unless it's backed up by monetary policy. Long-term JGB yields in Japan must rise to save the Yen. https://t.co/iLuriaz9rY https://t.co/E21LQyXnQq
@PeterSchiff
Gold traders are once again being fooled by the Kevin Warsh show. His "hawkish" talk has raised expectations of a Sept. rate hike the Fed likely has no intention of delivering. Also, Trump's failure to criticize Warsh is a scripted part of the same show to feign Fed independence.