Credit Agricole: Japan has succeeded in generating asymmetric risks around USD/JPY ...Middle East

Credit Agricole suggests that recent interventions by Japan's Ministry of Finance (MoF) and Bank of Japan (BoJ) have successfully created asymmetric risks around the USD/JPY exchange rate. Estimated expenditures nearing those of previous interventions in 2022 have effectively influenced market expectations and risk assessments.Key Points:Intervention Estimates: Preliminary data indicates that the BoJ may have spent approximately USD 55 billion on interventions to support the yen, with significant purchases occurring on specific days last week.Comparison with Previous Interventions: This level of intervention is close to the USD 60 billion spent during the last major intervention effort in Se

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