Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Gold Price Falls as Fed Rate Hike Fears and U.S.-Iran Tensions Weigh on Bullion 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Economic pessimism has set in – but there are reasons for Australians to be hopeful 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Asian Stocks Slip as US-Iran Ceasefire Hopes Lift Oil, Dollar Strength Persists 
China Factory PMI Seen Returning to Growth in June as AI Export Demand Supports Economy 
Japan Targets 1%+ Real Economic Growth With ¥370 Trillion Investment Plan 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
China Sets 1.25% Overnight Reverse Repo Rate Below Market Expectations 
Japan's Currency Intervention Efforts
In July 2024, Japan's Ministry of Finance (MOF) reported significant currency interventions to address the volatility of the yen. On July 11, Japan spent 3.168 trillion yen ($20.69 billion) in a dollar-selling effort, followed by an additional 2.367 trillion yen ($15.42 billion) on July 12. These actions were part of a larger 5.53 trillion yen intervention, spanning from June 27 to July 29.
Impact on the Yen Exchange Rate
The currency interventions had an immediate effect on the yen’s exchange rate. Over these two days, the yen appreciated sharply, strengthening from a low of 161.76 yen per dollar to 157.30 yen per dollar. This substantial movement highlighted the scale of Japan’s efforts to curb excessive depreciation of its currency.
Japan's Strategy and Goals
The interventions were part of Japan's ongoing strategy to stabilize the yen amidst global market fluctuations. By selling dollars and purchasing yen, Japan aims to mitigate the negative impacts of yen weakness on its economy and prevent further speculative trading pressures.
