Yen falls below 2024 intervention levels, Robin Brooks notes

Yen falls below 2024 intervention levels, Robin Brooks notes
Yen falls despite intervention efforts

Robin Brooks highlights that Japan's recent currency interventions have been substantial but ultimately ineffective. The yen is now weaker than it was in 2024, which marked the previous significant intervention before 2026. He suggests that intervention measures are unlikely to succeed as long as the Bank of Japan continues purchasing Japanese government bonds.

Brooks has previously commented on oil markets, noting that Brent crude prices are likely to remain within the $80-90 range due to ongoing war-related risks and a significant risk premium here. In a separate analysis, he said recent anxiety over oil prices has not been driven by new developments since the Strait closure here. These observations provide context for his views on recent currency interventions in Japan.

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