Japan's latest round of currency intervention may have cost $87 billion Recently, the US side stated that in order to support the yen exchange rate, the Bank of Japan may have spent about $87 billion, equivalent to 11 trillion yen, in its latest round of foreign exchange intervention. According to the Bank of Japan's latest money market data, it is estimated that about $53 billion and $34 billion were likely used in interventions on July 30 and 31, respectively, totaling $87 billion (about 11

Spot gold has just broken through the $4,380.00/oz mark, last trading at $4,380.07/oz, up 0.10% on the day; the main COMEX gold futures contract is last quoted at $4,435.10/oz, down 0.05% on the day.

According to the Financial Times, JPMorgan CEO Jamie Dimon had a phone conversation with the UK Chancellor of the Exchequer, Rachel Reeves, last week, warning her not to raise taxes on the banking industry. The UK government is currently considering introducing new taxes on banks before the October budget. Dimon stated that an uncompetitive tax regime could weaken London as a financial center, potentially leading to an outflow of capital and financial jobs from the UK.

Norwegian natural gas operator GASSCO issued a notice stating that the KOLLSNES natural gas processing plant in Norway experienced an unplanned shutdown from August 16 to 17, which will result in a daily reduction of 12 million cubic meters in the plant’s natural gas output.

Norwegian company Gassco plans to suspend operations at the Karsto gas field from 4:00 AM on August 17 to 4:00 AM on August 18, during which daily natural gas supply will be reduced by 5 million cubic meters.