Judgment on the currency clash

The battle over the exchange rate of the US dollar against the Japanese yen has ended, centering around the level of 155.200 yen, after intensive government interventions and coordination between Tokyo and Washington. The collapse to the level of 164 yen would have constituted an economic disaster for Japan, leading to imported inflation and increased import costs, which weakened purchasing power and caused the bankruptcy of small and medium-sized enterprises. The Bank of Japan's intervention, through direct support and currency purchases, helped halt the escalation and temporarily established the 155.200 level as a support point, known as the "stop-loss price." The American stance was decisive, as it supported Tokyo in facing speculators to maintain currency stability without setting an official target, while closely monitoring the market. This week saw the dollar stabilize against the yen within the range of 155.200, which has become a strategic pivot point for traders, representing a sensitive barrier that hinders capital outflows and prevents violent speculative movements, amid ongoing economic and financial challenges for both sides.

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