Shortly before Japan seemingly intervened to strengthen the yen, Finance Minister Satsuki Katayama issued an unusual warning for traders preparing to go on national holidays.
"Please keep your smartphones with you at all times, whether you¡¯re going out or resting,¡± Katayama told reporters, speaking ahead of Golden Week, when many Japanese typically take time off for vacation.
Traders are going to need to hold onto their devices going forward, as these kinds of interventions are becoming the new normal. In 2024, two rounds during the same holiday week were followed by more yen-buying in July.
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