Scott Bessent attempts a currency intervention to prop up the yen, applying lessons from the UK's Black Wednesday experience.
4 reports, 3 independent
Updated Sep 9
Gone quiet
- Reports
- 4
- Developments
- 2
- Repetition
- 75%
New informationRepeats or wire copies
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What happened
Scott Bessent attempts a currency intervention to prop up the yen, applying lessons from the UK's Black Wednesday experience.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- UK and Japanese central bank policies are interacting and influencing market movements in the GBP/JPY currency pair.Sub-event
Bessent uses UK intervention lessons in a current attempt to prop up the Japanese yen.1 source
Keep exploring
Part of
Coordinated policy meetings of major central banks including the FED, Bank of Japan, Reserve Bank of Australia, and Bank of England.Also in this story
- Major central banks, including the RBA, FED, and BoJ, are driving global interest rate shifts through recent rate hikes and probability changes.
- Policy decisions awaited regarding future rate hikes involving the RBA, BoJ, and Fed, following a failed joint intervention.
The entities involved
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Bank of England
central bank of the United Kingdom
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Bank of Japan
the central bank of Japan
- The Bank of Japan manages monetary policy in Japan, with Kazuo Ueda serving as Governor. This context is influenced by the ongoing energy costs due to the conflict in Iran.
- Major central banks, including the Bank of Japan, ECB, FED, and Bank of England, made simultaneous decisions regarding interest rates, impacting global markets.
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Scott Bessent
United States Secretary of the Treasury