According to Jin10, China’s central bank said it will conduct an outright reverse repo operation worth 500 billion yuan on Aug. 5, with a term of three months. On the international front, Bank of Japan data indicated that Japan may not have intervened in the foreign exchange market on Monday. U.S. Treasury Secretary Bessent said the United States would take all necessary measures to support the yen. He also said an Iran agreement could be reached as soon as tomorrow, which he said would open the Strait of Hormuz.
According to Jin10, China’s central bank said it will conduct an outright reverse repo operation worth 500 billion yuan on Aug. 5, with a term of three months.
Separately, Bank of Japan data showed that Japan may not have intervened in the foreign exchange market on Monday. U.S. Treasury Secretary Bessent said the United States would take all necessary measures to support the yen. He also said an Iran agreement could be reached as soon as tomorrow to open the Strait of Hormuz.
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