일본도 엔화를 방어하려고 고군분투하는게 보여지네요

-An analysis of the rapidly falling exchange rate of the Korean won against the dollar and the plunging exchange rate of the yen against the dollar-

음 달러환율도 그냥저냥 막 방어하는게 아니군요

일본도 엔화를 방어하려고 고군분투하는게 보여지네요

As of this time today, on May 5, 2024, there is a strange phenomenon occurring in the foreign exchange market.

The local currency is falling to "1,355 won" against the U.S. dollar.

In other words, the won is strong.

The same goes for the yen.

After the "160.15 yen against the dollar" in April 1990, the yen's exchange rate against the dollar surged to "160.03 yen" during the day on April 29, 2024.

In other words, the yen has lost the most money since the past 34 years.

However, after the yen's exchange rate soared to "160.03 yen," the exchange rate plummeted to "156.50 yen."

Regarding this phenomenon, I affirmed that the Bank of Japan (BOJ) had intervened in the foreign exchange market and posted it.

Because there is no reason to explain anything other than this.

In addition, it was analyzed that the size of the BOJ's intervention in the foreign exchange market would have been approximately $30 billion-40 billion.

However, the Mainichi Shimbun and the Nikkei Shimbun reported on April 29 that the Japanese foreign exchange authorities began to intervene in the market worth 5 trillion yen (approximately 44 trillion won).

In fact, the BOJ was found to have made about $35 billion (about 44 trillion won) in market intervention.

In other words, the BOJ spent approximately $35 billion and lowered the yen's exchange rate by "about 4 yen".

However, the problem is that as of this time, the exchange rate of the won against the dollar on May 5, 2024, is "152.98 yen", and the exchange rate is plummeting.

I believe that the BOJ has once again intervened in the foreign exchange market.

There is no other way to explain it than this.

After all, with the BOJ's second intervention in the foreign exchange market, the Dollar Index is falling to "105.08."

In other words, the dollar is turning weak, the yen continues to strengthen, the won is also turning strong, and the won's exchange rate against the dollar is plunging.

So how long will this phenomenon last?

I don't think this will last very long.

But why does the BOJ make such an irrational move? There is a question.