Bill’s Commentary:
“The US Treasury intervenes for the first time in 28 years because… Japan, the largest holder of Treasuries would be forced into selling. How convenient!”
Why the U.S. stepped in after decades to prop up Japan’s yen — and what’s at stake
Washington’s decision to join Japan in supporting the battered yen has prompted questions over what motivated the rare coordinated intervention, with analysts pointing to concerns over U.S. Treasury markets and Japan’s financial system.
Tokyo has grown increasingly wary of the yen’s decline, which recently dropped to its weakest level against the dollar in nearly four decades. The yen had been hovering at multi-decade lows, sliding to 163.73 per dollar last Thursday before rebounding to 157.57 on Friday.
The coordinated intervention was the first U.S.-Japan joint operation to buy yen since 1998, and the first coordinated intervention involving the two countries since the G7 acted to weaken the yen after the 2011 earthquake.
BillHolter.com 
Thank you – it’s a mess for sure. pamelamoves@gmail.com
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