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[Allianz Chief Economic Advisor: Yen Breaking 160 Again May Trigger Intervention] According to a report by Golden Finance, on August 29, Allianz Chief Economic Advisor Mohamed El-Erian stated that there are two key points to note regarding the yen. First, if the yen falls again to 160 yen per US dollar, it will inevitably heighten market speculation about Japan intervening in the foreign exchange market. Second, U.S. Treasury Secretary Besant mentioned in a letter to Senator Elizabeth Warren on August 27 that 'Japan is a major holder of U.S. Treasury bonds, and disorder in the yen market could trigger forced liquidations, thereby disrupting global market stability and ultimately increasing borrowing costs for American households and businesses.'