Tag: Bank of Japan
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The Joint Yen Intervention: Washington Buys Yen and the Carry Trade Blinks
Japan bought an estimated $59 billion of yen in a day, then the US Treasury joined: the first coordinated yen-buying in more than a decade, hours before a hawkish BoJ hold. Inside the joint yen intervention and what it means for the world’s largest funding trade.
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The Yen at a 40-Year Low: Why Record Intervention Keeps Failing
USD/JPY has traded through 162, the weakest yen since 1986, despite a record ¥11.73 trillion intervention and the highest Bank of Japan policy rate since 1995. Why the battle is really with the Fed.
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BoJ Holds, Brent Tops $107: The Twin Macro Shocks of Late April
Khan Capitals | May 2026 Key Takeaways Part of: The 2026 Iran Crisis – Khan Capital’s hub on the 2026 Iran crisis and oil shock. Two Shocks, One Week The week of 27 April 2026 produced two macro events that, individually, would have warranted standalone analysis. Together, they describe a more coherent global picture than…
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The Yen Carry Trade Unwind: How August 5, 2024 Shook Global Markets
The Nikkei crashes 12.4% in its worst day since 1987 as a 15-basis-point BoJ rate hike triggers the violent unwinding of an estimated $250-500 billion in yen carry trade positions. A masterclass in how hidden leverage and crowded trades can destabilise global markets.
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Bank of Japan Ends Negative Rates: A Historic Shift After 17 Years
The Bank of Japan ends the world’s last negative interest rate experiment after 17 years. Why the most important policy shift in a generation was met with a shrug, and what the global implications will be as they unfold.
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Bank of Japan Shocks Markets: Yield Curve Control Adjustment
The Bank of Japan stuns global markets by widening its yield curve control band, triggering a 3% yen surge and global bond sell-off. Why this technical adjustment is the first step in unwinding the most extreme monetary experiment in central banking history.