Mitsubishi UFJ says Japan's Thursday intervention was precisely timed, with action during the New York session highlighting a tacit signal of approval from the US side.

智通财经2026/07/31 10:41

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Analysts at Mitsubishi UFJ Bank pointed out that the timing of Thursday's suspected yen intervention closely matches previous operational patterns, occurring during the end-of-month data confirmation window, with related confirmation information not set to be released until the end of August.
The intervention took place during the New York trading session. This coincided with U.S. Treasury Secretary Yellen's statement on the same day that the yen is "significantly undervalued," as well as reports that the New York Fed had conducted inquiries on the USD/JPY exchange rate. The market generally believes that this intervention has received tacit approval or support from the U.S.
Analysts believe that this combination of timing and background sends a clear signal: Japanese authorities are seeking to maximize the effect of the intervention while minimizing disruptions to bilateral relations. The future trend of the exchange rate will depend on the level of cooperation between both sides regarding exchange rate policy.

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Mitsubishi UFJ says Japan's Thursday intervention was precisely timed, with action during the New York session highlighting a tacit signal of approval from the US side.

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