Japanese Prime Minister Sugua has painted a target on USD/JPY – don’t let it fall under 100

PM Suga has told officials at Japan’s Ministry of Finance not to let USD/ yen drop under 100

Japanese media, Nikkei with the info:

  • “Make sure the yen-dollar exchange rate does not cross the 100 yen mark”
  • confirmed by multiple sources
  • came with an unspoken message: Be prepared to sell yen for dollars in case the Japanese currency breaches the key threshold.
  • Suga’s willingness to consider an intervention — an option often seen as a last resort — took many by surprise.
Suga’s order came just after US election day.
PM Suga has told officials at Japan's Ministry of Finance not to let USD/ yen drop under 100