The BOJ intervened twice by purchase Yen at 9 trillion or 57 billion USD.
The intervention was considered the highest ever operation in a single week. The BOJ spent 9188.1 billon or 6 billion USD for 2 intervention operations in 2022. The 400 pip drop for the 2022 intervention held as BOJ interest rates supported the lower USD/JPY price while the recent intervention resulted in failure as USD/JPY lacked the proper lower interest rate level to sustain a USD/JPY fall.
Created by the new yield curve arrangements was masses upon masses of supports to USD/JPY to the point USD/JPY becomes a permanent weak currency and no shorts exist. Fiveyear averages Currency, financial market prices and economics to Inflation and GDP trade within the context of 5 year averages. Currencies trade within 2 and 400 pips on either side of the 5 year average. The 10 year yield trades 2 points above, SPX trades 1000 points, 600 points for XAU/USD.
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