Mitsubishi UFJ Bank: Concerns over coordinated intervention may prompt U.S. participation in actions to boost the yen
智通财经2026/08/18 10:11Show original
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- Mitsubishi UFJ Bank analyst Derek Halpenny pointed out that market concerns over Japan potentially selling US Treasuries to raise funds for currency intervention may prompt the US to further join actions with Japan to support the yen.
- The US and Japan carried out joint intervention at the end of July to support the yen. Japan's Ministry of Finance plans to use the Federal Reserve's FIMA repo facility to obtain US dollar liquidity without selling US Treasuries, but this move has triggered speculation about increasing concerns regarding the stability of the US Treasury market.
- Halpenny believes this arrangement may have the opposite effect, as although the FIMA facility is intended to alleviate selling pressure, the signal it sends could instead heighten market worries about changes in demand structure for US Treasuries.
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