Bloomberg/Tracy Alloway and Joe Wiesenthal/7-17-2022
“We are in this sort of reverse currency war, but I think that central banks are clearly making an emphasis on the role of currencies, some more explicit than others, of course … Given the nature of the shock, it does make sense for central banks to have a very big, you know, overarching currency focus.” – Jon Turek, JST Advisors
USAGOLD note: It is in the context of a reverse currency war, that the recent gains in the Japanese yen takes on a more than passing interest. There is a growing movement in Japanese policy circles to begin reversing the years of massive stimulus built into the economy, and that, in turn, is encouraging speculative purchases of the yen.
Chart courtesy of TradingEconomics.com
