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Brad Setser on the US's Unusual Japanese Yen Intervention
The United States and Japan conducted their first joint intervention in currency markets in 15 years, targeting the depreciation of the Japanese yen. Brad Setser, an analyst, examined this intervention in both written and podcast formats, discussing the circumstances surrounding the action and its strategic implications. The intervention was characterized as unusual in its execution and approach.
Key takeaways
- 1.The US and Japan coordinated currency market intervention for the first time since 2009, specifically addressing yen depreciation
- 2.The intervention was notable for its unusual execution and methodology compared to standard currency market operations
- 3.Policy experts and analysts are examining potential follow-up strategic moves and the broader implications of this joint action
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