Foreign exchange

yen intervent

2026-08-10 12:10:55

Ueda's Rate-Hike Hint Led to First US-Japan Joint Yen Intervention in 28 Years

According to Kyodo News, multiple Japanese government officials disclosed on August 10 that the US and Japanese governments carried out an unusual joint yen-buying intervention on July 31, US Eastern Time — the first such action in 28 years. The decisive factor, they said, was Bank of Japan Governor Kazuo Ueda's strong hint at his press conference that day that policy rates would be raised as early as September and beyond. Ueda explicitly said the BOJ would "accelerate the pace of rate hikes" if necessary. The US gave a positive assessment, and the two governments aligned on preventing excessive yen depreciation. The officials said Washington is concerned that Japan's delayed rate hikes have left the yen too weak, fueling further price increases and higher long-term interest rates that could ripple across global financial markets. A senior Japanese government official said Ueda's remarks were highly persuasive to the US, and that the BOJ has no choice but to raise rates at its September 17-18 policy meeting.

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Policy Regula

2026-08-06 12:00:00

‘Sell America’ Trade Returns as Washington Policy Signals Pressure the Dollar and Treasuries

Global bond and currency investors are again weighing a “sell America” trade as a string of policy signals out of Washington reshapes how markets price U.S. risk. A shift in communication style from Federal Reserve Chair Warsh, reported contacts between Warsh and Donald Trump, and Treasury Secretary Bessent’s approval of U.S. support for Japan’s FX intervention have added to concern over policy credibility. Those concerns are landing at the same time as a wider fiscal deficit and trade-war overhang. Markets have already started to reflect that change. The 30-year Treasury yield briefly moved above 5%, its highest level since 2007, while the Bloomberg Dollar Spot Index has fallen about 2% from its June peak. Investors cited in the report said that combination looks unusual given that U.S. rates remain high. Several money managers said they are trimming exposure to Treasuries or the dollar, while others argue the broader case for U.S. assets has not collapsed. Foreign holdings of Treasuries reached $9.4 trillion in May, up 4% from a year earlier. Even so, concerns are building around long-end supply, term premium, and whether overseas demand can keep pace with U.S. borrowing.

1820

Silver

2026-08-05 01:01:00

Silver rises to $59.691 an ounce as gold, crude oil and European equities edge higher

Gate data showed a mixed cross-asset picture, with precious metals, oil and parts of Europe’s equity market posting gains. Gold rose 0.12% on the day to $4,082.52 per ounce, while silver climbed 0.74% to $59.691 per ounce. BTC and ETH volatility gauges, listed as nBVIX and EVIX, did not have available quotes, and their daily changes were shown as unavailable. In foreign exchange, USD/CNH was up 0.01% at 6.74836, while USD/JPY slipped 0.06% to 157.557. Among major European stock benchmarks, the Euro Stoxx 50 gained 0.79% to 6,509.12, the UK’s FTSE 100 added 0.05% to 10,911.1, and Germany’s DAX40 fell 0.02% to 26,367.4. In commodities, WTI crude rose 0.22% to $75.77 a barrel and Brent crude increased 0.45% to $80.15 a barrel. Gate also said users can trade traditional financial market products on the platform, including precious metals, foreign exchange, global stock CFDs, key indices and commodities, through its TradFi features on the app and web interface.

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USD/JPY

2026-08-04 01:00:04

USD/JPY rises to 157.513 as oil and European equities post intraday gains

Gate’s latest market data showed the U.S. dollar rising 0.24% against the Japanese yen to 157.513, while USD/CNH was quoted at 6.75728 with a 0% intraday move. In precious metals, gold slipped to $4,049.09 per ounce, down 0.06% on the day, while silver stood at $58.116 per ounce, up 0.45%. BTC and ETH volatility gauges, nBVIX and EVIX, were unavailable, with daily change fields also not provided. In equities, the Euro Stoxx 50 climbed 0.56% to 6,441.6, while the UK100 and Germany’s DAX40 edged lower. Crude oil prices moved higher, with WTI up 1.44% to $81.52 a barrel and Brent up 1.05% to $85.74. Gate also said users can directly trade traditional financial market products on its platform, including precious metals, foreign exchange, global stock CFDs, key indexes and commodities, through integrated TradFi functions on its app and web interface.

1900

Yen carry tra

2026-08-03 19:36:10

US-Japan yen intervention reshapes carry trade risk, but rate gap still drives the bigger trend

Japanese officials said Tokyo coordinated with the US Treasury to buy yen, and both President Donald Trump and Treasury Secretary Scott Bessent later confirmed US participation while leaving the door open to another joint operation. After those statements, USD/JPY pulled back sharply from levels near 164 seen last week, at one point falling to around 155.20, while an Associated Press reading on the morning of Aug. 3 showed the pair near 156.34. A Reuters photograph taken on July 31 added another layer to the story. Bessent’s notepad at a Camp David cabinet meeting included the line: "To Do: Buy Japanese Yen (JPY) $5-10 bil." That note does not confirm how much was actually bought, and the US Treasury had not formally verified a figure at the time. Even so, the image suggested Washington had considered a purchase large enough to matter to leveraged traders. The intervention has changed the risk profile of yen-funded carry trades rather than erased the strategy outright. The Federal Reserve kept its federal funds target range at 3.50% to 3.75% on July 29, while the Bank of Japan left its short-term policy rate at 1% on July 31. Japan’s financing choices also matter for global markets: Bessent said the Federal Reserve’s FIMA repo facility was used in the operation, a mechanism that can provide dollar liquidity against Treasuries without requiring immediate outright sales.

1900

helping infor

2026-08-03 10:10:11

Lawyer argues Help-Info-Network-Crime charges require an upstream offense carried out through information networks

A MarsBit commentary by lawyer Shao Shiwei uses a case involving alleged illegal foreign-exchange dealing through virtual currency to argue that a failure to prove illegal business operations does not automatically justify a fallback charge of helping information-network criminal activity. Shao says the upstream conduct in such cases must itself qualify as a crime "committed through information networks," rather than a traditional offline offense that merely used tools such as WeChat, Telegram, online banking, or virtual currency somewhere in the process. The article says existing legal and judicial documents governing the offense do not directly define what "using information networks to commit a crime" means. On that basis, Shao argues prosecutors should have to prove that threshold element instead of treating it as self-evident. His proposed test is that the information network must play a substantial and central role in the execution stage of the upstream offense. If the network appears only in contact, planning, or post-offense disposal while the core criminal conduct is completed offline, the requirement is not met. The piece also reviews three broad approaches seen in practice and academic debate: a broad reading, a restrictive reading, and a middle-ground view. Shao says his position is closer to the restrictive and middle-ground approaches. A follow-up article, according to the piece, will analyze three typical matching foreign-exchange models in more detail.

420

USDJPY

2026-08-03 00:37:43

USD/JPY drops 170 points in 15 minutes, breaks below 156 for first time since May 6

BlockBeats reported on Aug. 3 that USD/JPY extended its decline by 170 points within 15 minutes, marking the first break below the 156 level since May 6. The pair was down more than 1% on the day. Earlier, both the United States and Japan had said they would not hesitate to further coordinate and carry out intervention in the foreign exchange market. The move put the 156 threshold back in focus after the pair slipped through the level in a rapid intraday drop. The report tied the latest price action to prior remarks from the U.S. and Japan that they were prepared to step up joint action in the currency market if needed.

1840

SAFE

2026-08-02 08:30:12

China’s foreign exchange regulator says AI and big data will be used to strengthen oversight

China’s State Administration of Foreign Exchange said it held a video conference on work plans for the second half of 2026, laying out key foreign exchange management priorities for the period. According to the meeting readout carried by Odaily, the regulator said it will strengthen and improve oversight in the foreign exchange sector and push forward revisions to the Regulations on Foreign Exchange Administration. The agenda also called for improving supervisory capacity by applying new technologies including artificial intelligence and big data to foreign exchange oversight. At the same time, authorities said they will step up supervision of trading behavior in the foreign exchange market and keep intense pressure on illegal cross-border financial activities. Beyond enforcement, SAFE said it will strengthen its foreign exchange reserve operation and management capabilities, raise the professional level of reserve management, improve overall foreign exchange administration, advance the balance of payments statistical system, deepen the construction of “digital foreign exchange administration” and “secure foreign exchange administration,” and accelerate practical exploration of “smart foreign exchange administration” use cases.

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