Jane Foley: Yen Has Lost Its Ability to Weaken

The transcript discusses the dynamics of dollar weakness and yen strength, highlighting the yen's unusual resilience despite increased risk appetite and stock market highs. It explores historical market reactions, such as post-Brexit and Japanese elections, and their impact on currency movements. The conversation also delves into the complexities of currency intervention, particularly the challenges faced by the Bank of Japan and comparisons with the Swiss franc, emphasizing the difficulty of non-coordinated interventions.

What is one reason mentioned for the yen's unexpected strength despite increased risk appetite?

• Increased confidence in the Bank of Japan's policy

• Loss of confidence in the Bank of Japan's policy

• A strong US dollar

• High inflation rates in Japan

What historical event is referenced in relation to yen levels?

• The global financial crisis of 2008

• The introduction of the euro

• The UK voting to leave the EU

• The US presidential election

What political event is mentioned as having influenced yen movements?

• The Upper House elections in Japan

• The US midterm elections

• The French presidential election

• The German federal election

What is a challenge of non-coordinated currency intervention?

• It often fails without coordinated efforts

• It is always successful

• It requires approval from the United Nations

• It leads to immediate currency stabilization

Which currency is compared to the yen in terms of intervention challenges?

• The euro

• The British pound

• The Canadian dollar

• The Swiss franc