JPY Intervention and the Hormuz Overlay | A Cross-Asset Read

The Japanese yen surged more than 2.5 percent on Thursday after Tokyo issued a final warning to speculators and reportedly intervened in foreign exchange markets. But the structural forces pulling the currency lower remain intact.

In this video, we break down the three forces driving yen weakness, the energy importer FX channel running through the Strait of Hormuz closure, what is different between the 2024 intervention playbook and current conditions, and the cross-asset implications for Japanese equities, global duration, and Asian importer FX.

#JPY, #USDJPY, #BOJ, #Intervention, #Hormuz, #Iran, #Oil, #Brent, #Macro, #FX, #Japan, #CapitalMarkets, #SovereignFX, #EnergyImports, #Geopolitics, #PunjabCapital