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
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- 4
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- 2
- Repetition
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New informationRepeats or wire copies
AI-generated analysis. Brind wrote this summary from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.
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
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Scott Bessent
United States Secretary of the Treasury
Related events
- US policy is reportedly adopting elements of Japan's yield-curve-control playbook amid market shocks.
- Bank of Japan is pushing for a strong yen, with Donald Trump and Scott Bessent commenting on the move.
- The Bank of Japan intervened to prop up its currency, with commentary provided by Atsushi Mimura, reported by Bloomberg.
- BoJ intervention is expected due to weak yen, following reports on Euro area inflation data.
- Scott Bessent is observing the market risks stemming from potential bond sales in Japan and the resulting pressure on the global financial stability due to the weak yen.