State of the Union: The U.S. and Japanese central banks jointly bought yen in an attempt to shore up Japan’s weakening currency. The post U.S. and Japan Intervene to Prop Up Yen appeared first on The American Conservative .
President Donald Trump said Sunday that the United States had joined Japan in buying yen to halt the currency’s persistent slide, marking the allies’ first coordinated monetary intervention since 2011. Trump called the purchase a “signal of friendship” that would benefit both the United States and the global economy. “We’re always there for Japan,” he told reporters aboard Air Force One, adding that Japan had also been good to the United States “with the exception, of course, of Pearl Harbor.” Japan’s Finance Ministry said it purchased yen Friday in coordination with the U.S. Treasury to counter “excessive volatility and disorderly movements.” Japan’s Finance Minister Satsuki Katayama and Treasury Secretary…Open
A temporary pause in hostilities between the U.S. and Iran has eased oil prices, providing potential relief for inflation concerns and central bank policies.
A temporary pause in hostilities between the U.S. and Iran has eased oil prices . PULSE POINTS WHAT HAPPENED: Oil prices fell below 90 US dollars a barrel after a three-day pause in fighting between the United States and Iran raised hopes that peace negotiations could resume and allow the Strait of Hormuz, a key global oil shipping route, to reopen. Benchmark Brent crude dropped as much as eight percent to 87.55 US dollars a barrel after briefly reaching 100 dollars last week during renewed hostilities. DETAIL: The renewed fighting in the Middle East, triggered by Iranian attacks on commercial ships transiting the Strait of Hormuz, disrupted the waterway that normally carries nearly one-fifth of the world’s crude oil supplies, fueling…Open
Inflationary surges and economic slowdowns set off by the war in Iran, tariffs and other Trump policies have forced monetary officials to adjust, our columnist says.
As central banks buy more gold, where to put all that heavy metal is an increasingly important question. Reserves must be secure and ready to trade in a crisis.
