{"id":2752,"date":"2026-08-04T02:16:53","date_gmt":"2026-08-03T23:16:53","guid":{"rendered":"https:\/\/dailybusiness.info\/?p=2752"},"modified":"2026-08-04T02:18:17","modified_gmt":"2026-08-03T23:18:17","slug":"joint-us-japan-currency-intervention-buys-tokyo-time-for-a-september-rate-hike","status":"publish","type":"post","link":"https:\/\/dailybusiness.info\/?p=2752","title":{"rendered":"Joint US-Japan currency intervention buys Tokyo time for a September rate hike"},"content":{"rendered":"<p>&nbsp;<\/p>\n<div>\n<aside><\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio src=\"https:\/\/ent.news\/internal\/audio\/polly-719430-1785724670.98fb9150-995e-4a99-b2e3-9ba3a412e982.mp3\" preload=\"metadata\" controls=\"controls\"><strong>Tokyo and Washington are <span synonyms=\"jointly|collectively\" class=\"synonym\">collectively<\/span> stepping in to arrest the JPY\u2019s slide to 40-year lows<\/strong>, <span synonyms=\"but the|however the\" class=\"synonym\">however the<\/span> intervention is merely <span synonyms=\"buying|shopping for\" class=\"synonym\">shopping for<\/span> time for a <span synonyms=\"fix|repair\" class=\"synonym\">repair<\/span> that <span synonyms=\"currency|foreign money|forex\" class=\"synonym\">foreign money<\/span> purchases alone <span synonyms=\"cannot|can't|can not\" class=\"synonym\">can not<\/span> <span synonyms=\"deliver|ship\" class=\"synonym\">ship<\/span>: a <span synonyms=\"Bank|Financial institution\" class=\"synonym\">Financial institution<\/span> of Japan (BOJ) <span synonyms=\"rate|price|fee|charge\" class=\"synonym\">charge<\/span> hike, now penciled in for as early as September. Finance Minister Satsuki Katayama <span synonyms=\"is expected|is predicted|is anticipated\" class=\"synonym\">is anticipated<\/span> <span synonyms=\"to confirm|to verify|to substantiate\" class=\"synonym\">to substantiate<\/span> the joint <span synonyms=\"action|motion\" class=\"synonym\">motion<\/span> <span synonyms=\"today|right now|at present|at this time|as we speak|at the moment|in the present day|immediately|right this moment\" class=\"synonym\">right now<\/span>, <span synonyms=\"according to|based on|in accordance with|in line with|in response to|in keeping with\" class=\"synonym\">in accordance with<\/span> two Japanese <span synonyms=\"officials|officers\" class=\"synonym\">officers<\/span> cited by <a href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/japan-announce-tokyo-washington-took-joint-action-yen-sources-say-2026-08-02\/\" target=\"_blank\">Reuters<\/a>, marking <span synonyms=\"the first|the primary\" class=\"synonym\">the primary<\/span> such coordinated <span synonyms=\"move|transfer\" class=\"synonym\">transfer<\/span> since 2011.<\/p>\n<p><strong>The mechanics of the rescue:<\/strong> Japan <span synonyms=\"bought|purchased\" class=\"synonym\">purchased<\/span> JPY and <span synonyms=\"sold|bought|offered\" class=\"synonym\">bought<\/span> USD in New York hours on Thursday, with BOJ <span synonyms=\"data|knowledge|information\" class=\"synonym\">knowledge<\/span> suggesting <span synonyms=\"a massive|an enormous|a large\" class=\"synonym\">an enormous<\/span> outlay of <span synonyms=\"up to|as much as\" class=\"synonym\">as much as<\/span> USD 58.97 bn, <span synonyms=\"though|although\" class=\"synonym\">although<\/span> confirmed figures <span synonyms=\"won|gained|received\" class=\"synonym\">gained<\/span>\u2019t be out <span synonyms=\"for another|for an additional|for one more\" class=\"synonym\">for one more<\/span> month. <a href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/us-treasury-undertakes-intervention-yen-market-ft-reports-2026-08-01\/\" target=\"_blank\">Tokyo intervened again<\/a> in New York hours on Friday. The US <span synonyms=\"side|aspect|facet\" class=\"synonym\">facet<\/span> was executed quietly: the Treasury <span synonyms=\"told|informed|advised|instructed\" class=\"synonym\">advised<\/span> banks on Friday <a href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/bessents-to-do-list-buy-5-10-billion-worth-japanese-yen-reuters-photo-shows-2026-07-31\/\" target=\"_blank\">to stand ready<\/a>, and the New York Fed <span synonyms=\"sold|bought|offered\" class=\"synonym\">bought<\/span> EUR for JPY on the Treasury\u2019s behalf <span synonyms=\"through|via|by way of|by means of|by\" class=\"synonym\">via<\/span> Goldman Sachs and Morgan Stanley, <span synonyms=\"according to|based on|in accordance with|in line with|in response to|in keeping with\" class=\"synonym\">in accordance with<\/span> the <a href=\"https:\/\/www.ft.com\/content\/0f9b2fe7-bde4-4f5f-b49e-93ccb5da9ea8?syn-25a6b1a6=1\" target=\"_blank\">Financial Times<\/a>, <span synonyms=\"but|however\" class=\"synonym\">however<\/span> no <span synonyms=\"amount|quantity\" class=\"synonym\">quantity<\/span> was disclosed.<\/p>\n<p><strong>A <span synonyms=\"highly|extremely\" class=\"synonym\">extremely<\/span> <span synonyms=\"visible|seen\" class=\"synonym\">seen<\/span> to-do <span synonyms=\"list|listing|record|checklist\" class=\"synonym\">record<\/span>:<\/strong> <span synonyms=\"While|Whereas\" class=\"synonym\">Whereas<\/span> <span synonyms=\"the exact|the precise\" class=\"synonym\">the precise<\/span> US spend wasn\u2019t disclosed, Treasury Secretary Scott Bessent <span synonyms=\"accidentally|by chance|by accident|unintentionally\" class=\"synonym\">by accident<\/span> flashed his notepad <span synonyms=\"during|throughout\" class=\"synonym\">throughout<\/span> a televised Camp David <span synonyms=\"cabinet|cupboard\" class=\"synonym\">cupboard<\/span> <span synonyms=\"meeting|assembly\" class=\"synonym\">assembly<\/span> on Friday. <span synonyms=\"The top|The highest\" class=\"synonym\">The highest<\/span> <span synonyms=\"item|merchandise\" class=\"synonym\">merchandise<\/span>? \u201cTo Do: <span synonyms=\"Buy|Purchase\" class=\"synonym\">Purchase<\/span> Japanese Yen (JPY) USD 5-10 bn.\u201d<\/p>\n<p><strong>Does this <span synonyms=\"actually|truly|really\" class=\"synonym\">really<\/span> work?<\/strong> Japan has intervened alongside the US or <span synonyms=\"other|different\" class=\"synonym\">different<\/span> G7 <span synonyms=\"partners|companions\" class=\"synonym\">companions<\/span> <span synonyms=\"five|5\" class=\"synonym\">5<\/span> <span synonyms=\"times|occasions|instances\" class=\"synonym\">instances<\/span> since 1985 and gone it alone eight <span synonyms=\"times|occasions|instances\" class=\"synonym\">instances<\/span>, <span synonyms=\"according to|based on|in accordance with|in line with|in response to|in keeping with\" class=\"synonym\">in accordance with<\/span> an <span synonyms=\"analysis|evaluation\" class=\"synonym\">evaluation<\/span> by <span synonyms=\"currency|foreign money|forex\" class=\"synonym\">foreign money<\/span> strategist Brent Donnelly of Spectra Markets, <span synonyms=\"separately|individually\" class=\"synonym\">individually<\/span> cited by <a href=\"https:\/\/www.reuters.com\/business\/finance\/rare-japan-korea-joint-intervention-shakes-up-yen-won-2026-07-31\/\" target=\"_blank\">Reuters<\/a>. His <span synonyms=\"analysis|evaluation\" class=\"synonym\">evaluation<\/span> <span synonyms=\"shows|exhibits|reveals\" class=\"synonym\">reveals<\/span> <span synonyms=\"most of the|a lot of the|many of the\" class=\"synonym\">many of the<\/span> joint interventions coincided with an <span synonyms=\"actual|precise\" class=\"synonym\">precise<\/span> <span synonyms=\"turn|flip\" class=\"synonym\">flip<\/span> <span synonyms=\"in the|within the\" class=\"synonym\">within the<\/span> USD\/JPY <span synonyms=\"trend|development|pattern\" class=\"synonym\">pattern<\/span>. <span synonyms=\"However|Nevertheless|Nonetheless\" class=\"synonym\">Nonetheless<\/span>, Nomura <span synonyms=\"currency|foreign money|forex\" class=\"synonym\">foreign money<\/span> strategist Dominic Bunning <span synonyms=\"remains|stays\" class=\"synonym\">stays<\/span> skeptical, calling <span synonyms=\"the current|the present\" class=\"synonym\">the present<\/span> <span synonyms=\"move|transfer\" class=\"synonym\">transfer<\/span> \u201ctacit <span synonyms=\"support|help|assist\" class=\"synonym\">assist<\/span> <span synonyms=\"more|extra\" class=\"synonym\">extra<\/span> so than <span synonyms=\"explicit|specific|express\" class=\"synonym\">specific<\/span> coordinated intervention,\u201d <span synonyms=\"rather|quite|somewhat|slightly|fairly|relatively|moderately|reasonably\" class=\"synonym\">quite<\/span> than 2011-style coordination.<\/p>\n<p><strong>Why September <span synonyms=\"matters|issues\" class=\"synonym\">issues<\/span> <span synonyms=\"more than|greater than\" class=\"synonym\">greater than<\/span> <span synonyms=\"today|right now|at present|at this time|as we speak|at the moment|in the present day|immediately|right this moment\" class=\"synonym\">right now<\/span>:<\/strong> The BOJ held its <span synonyms=\"rate|price|fee|charge\" class=\"synonym\">charge<\/span> at 1% on Friday <span synonyms=\"but|however\" class=\"synonym\">however<\/span> warned for <span synonyms=\"the first|the primary\" class=\"synonym\">the primary<\/span> time that underlying inflation <span synonyms=\"could|might|may\" class=\"synonym\">might<\/span> exceed its <span synonyms=\"target|goal\" class=\"synonym\">goal<\/span>, marking the clearest <span synonyms=\"signal|sign\" class=\"synonym\">sign<\/span> <span synonyms=\"yet|but\" class=\"synonym\">but<\/span> {that a} hike is coming as <span synonyms=\"soon|quickly\" class=\"synonym\">quickly<\/span> as <span synonyms=\"next|subsequent\" class=\"synonym\">subsequent<\/span> month. Pundits <span synonyms=\"think|assume|suppose\" class=\"synonym\">suppose<\/span> intervention <span synonyms=\"won|gained|received\" class=\"synonym\">gained<\/span>\u2019t <span synonyms=\"help|assist\" class=\"synonym\">assist<\/span> the JPY in <span synonyms=\"the longer term|the long run|the long term\" class=\"synonym\">the long run<\/span> <span synonyms=\"unless|until|except\" class=\"synonym\">until<\/span> the BOJ <span synonyms=\"actually|truly|really\" class=\"synonym\">really<\/span> follows <span synonyms=\"through|via|by way of|by means of|by\" class=\"synonym\">via<\/span>, and <span synonyms=\"unless|until|except\" class=\"synonym\">until<\/span> US <span synonyms=\"rates|charges\" class=\"synonym\">charges<\/span> <span synonyms=\"move|transfer\" class=\"synonym\">transfer<\/span> <span synonyms=\"lower|decrease\" class=\"synonym\">decrease<\/span> too.<\/p>\n<p><strong>South Korea <span synonyms=\"is also|can also be|can be\" class=\"synonym\">can also be<\/span> <span synonyms=\"playing|enjoying|taking part in\" class=\"synonym\">taking part in<\/span> <span synonyms=\"defense|protection\" class=\"synonym\">protection<\/span>:<\/strong> Seoul <span synonyms=\"sold|bought|offered\" class=\"synonym\">bought<\/span> USD alongside Japan on Thursday, briefly lifting the KRW 2% to a nine-month <span synonyms=\"high|excessive\" class=\"synonym\">excessive<\/span>. <span synonyms=\"But the|However the\" class=\"synonym\">However the<\/span> KRW\u2019s broader 7.5% surge this month is coming from <span synonyms=\"a different|a special|a unique|a distinct\" class=\"synonym\">a unique<\/span> <span synonyms=\"source|supply\" class=\"synonym\">supply<\/span> <span synonyms=\"entirely|completely|totally|solely|fully\" class=\"synonym\">fully<\/span>: Korean <span synonyms=\"companies|corporations|firms\" class=\"synonym\">corporations<\/span> repatriating USDs, not intervention.<\/p>\n<p><strong>OUR TAKE-<\/strong> Washington <span synonyms=\"is helping|helps\" class=\"synonym\">helps<\/span> prop up the JPY <span synonyms=\"because|as a result of\" class=\"synonym\">as a result of<\/span> <span synonyms=\"the alternative|the choice\" class=\"synonym\">the choice<\/span> isn\u2019t <span synonyms=\"appealing|interesting\" class=\"synonym\">interesting<\/span>.<\/p>\n<p>Japan <span synonyms=\"is one of the|is among the|is likely one of the|is without doubt one of the\" class=\"synonym\">is without doubt one of the<\/span> largest <span synonyms=\"foreign|overseas|international\" class=\"synonym\">international<\/span> holders of US <span synonyms=\"government|authorities\" class=\"synonym\">authorities<\/span> debt. If Tokyo is <span synonyms=\"forced|pressured|compelled\" class=\"synonym\">pressured<\/span> to <span synonyms=\"sell|promote\" class=\"synonym\">promote<\/span> down its Treasury holdings to fund a unilateral JPY rescue, it <span synonyms=\"could|might|may\" class=\"synonym\">might<\/span> <span synonyms=\"trigger|set off\" class=\"synonym\">set off<\/span> a selloff in US debt and <span synonyms=\"cause|trigger\" class=\"synonym\">trigger<\/span> an unwelcome spike in US yields. Japan\u2019s Finance Ministry <a href=\"https:\/\/x.com\/MOF_Japan\/status\/2083238197736448375\" target=\"_blank\">posted on X<\/a> over the weekend that it has \u201ca broad <span synonyms=\"range|vary\" class=\"synonym\">vary<\/span> of <span synonyms=\"tools|instruments\" class=\"synonym\">instruments<\/span>,\u201d <span synonyms=\"including|together with\" class=\"synonym\">together with<\/span> <span synonyms=\"access|entry\" class=\"synonym\">entry<\/span> to the Fed\u2019s <span synonyms=\"Foreign|Overseas|International\" class=\"synonym\">Overseas<\/span> and <span synonyms=\"International|Worldwide\" class=\"synonym\">Worldwide<\/span> <span synonyms=\"Monetary|Financial\" class=\"synonym\">Financial<\/span> Authorities (FIMA) Repo Facility, which lets it <span synonyms=\"raise|increase|elevate\" class=\"synonym\">increase<\/span> USD liquidity <span synonyms=\"without|with out\" class=\"synonym\">with out<\/span> <span synonyms=\"selling|promoting\" class=\"synonym\">promoting<\/span> its Treasury holdings outright.<\/p>\n<p class=\"tag-border-left\"><strong>MARKETS THIS MORNING-<\/strong><\/p>\n<p><strong>Asian markets kicked off the month <span synonyms=\"in the|within the\" class=\"synonym\">within the<\/span> <span synonyms=\"red|purple|pink|crimson\" class=\"synonym\">purple<\/span><\/strong>, led by <span synonyms=\"a sharp|a pointy\" class=\"synonym\">a pointy<\/span> decline in South Korea\u2019s Kospi, which dropped 4.5% in early <span synonyms=\"trading|buying and selling\" class=\"synonym\">buying and selling<\/span>, capping off a turbulent July <span synonyms=\"during|throughout\" class=\"synonym\">throughout<\/span> which it slumped 22%. The drop-off coincided with a sell-off <span synonyms=\"among|amongst\" class=\"synonym\">amongst<\/span> heavyweight chipmakers, <span synonyms=\"driven|pushed\" class=\"synonym\">pushed<\/span> by mounting headwinds that <span synonyms=\"include|embrace|embody\" class=\"synonym\">embrace<\/span> <span synonyms=\"rapid|speedy|fast\" class=\"synonym\">fast<\/span> <span synonyms=\"advancements|developments\" class=\"synonym\">developments<\/span> in China\u2019s AI and semiconductor sectors. Japan\u2019s Nikkei wasn\u2019t too far behind, slipping 2.2%.<\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\"><\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">54,286<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">+1.6% (YTD: +29.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\"><\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\"><span synonyms=\"Buy|Purchase\" class=\"synonym\">Purchase<\/span> 50.35<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\"><span synonyms=\"Sell|Promote\" class=\"synonym\">Promote<\/span> 50.48<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\"><\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\"><strong>USD (CIB)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\"><span synonyms=\"Buy|Purchase\" class=\"synonym\">Purchase<\/span> 50.30<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\"><span synonyms=\"Sell|Promote\" class=\"synonym\">Promote<\/span> 50.40<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\"><\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\"><strong><span synonyms=\"Interest rates|Rates of interest\" class=\"synonym\">Rates of interest<\/span> (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">19.00% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">20.00% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\"><\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">10,706<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">+1.1% (YTD: +2.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\"><\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">9,915<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">+0.4% (YTD: -0.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\"><\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">5,796<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">+0.1% (YTD: -4.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\"><\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">7,490<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">+0.7% (YTD: +9.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\"><\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">10,868<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">-0.3% (YTD: +9.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\"><\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">6,358<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">+0.2% (YTD: +9.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\"><\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">USD 83.64<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">-4.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\"><\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\"><strong><span synonyms=\"Natural|Pure\" class=\"synonym\">Pure<\/span> <span synonyms=\"gas|fuel|gasoline\" class=\"synonym\">gasoline<\/span> (Nymex)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">USD 2.73<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">-0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\"><\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">USD 4,126<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">+0.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\"><\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">USD 63,421<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">+1.0% (YTD: -27.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\"><\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\"><strong>S&amp;P Egypt Sovereign Bond Index<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">1,087<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">+0.1% (YTD: +9.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\"><\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\"><strong>S&amp;P MENA bond &amp; sukuk<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">149.83<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">0.0% (YTD: -1.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\"><\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\"><strong>VIX (Volatility Index)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">15.99<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style: solid; padding: 5pt 5pt 5pt 5pt; border-right-width: 1pt; border-top-style: solid; border-left-style: solid; border-bottom-width: 1pt; width: 139.2pt;\">\n<p style=\"padding: 0; margin: 0; line-height: 1.15; text-align: left;\">-6.4% (YTD: +7.0%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p class=\"tag-border-left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p><strong>The EGX30 rose 1.6% at yesterday\u2019s <span synonyms=\"close|shut\" class=\"synonym\">shut<\/span><\/strong> on turnover of EGP 10.4 bn (8.7% above the 90-day <span synonyms=\"average|common\" class=\"synonym\">common<\/span>). Regional <span synonyms=\"investors|buyers|traders\" class=\"synonym\">buyers<\/span> <span synonyms=\"were|have been|had been\" class=\"synonym\">had been<\/span> <span synonyms=\"the sole|the only|the only real\" class=\"synonym\">the only<\/span> <span synonyms=\"net|internet|web\" class=\"synonym\">web<\/span> sellers. The index is up 29.8% YTD.<\/p>\n<p><strong><span synonyms=\"In the|Within the\" class=\"synonym\">Within the<\/span> <span synonyms=\"green|inexperienced\" class=\"synonym\">inexperienced<\/span>:<\/strong> Telecom Egypt (+9.2%), AMOC (+7.5%), and Kima (+6.2%).<\/p>\n<p><strong><span synonyms=\"In the|Within the\" class=\"synonym\">Within the<\/span> <span synonyms=\"red|purple|pink|crimson\" class=\"synonym\">purple<\/span>:<\/strong> Palm Hills Developments (-0.1%).<\/p>\n<h3 class=\"jp-relatedposts-headline\"><em><span synonyms=\"Related|Associated\" class=\"synonym\">Associated<\/span><\/em><\/h3>\n<p><\/audio><\/figure>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; Tokyo and Washington are collectively stepping in to arrest the JPY\u2019s slide to 40-year lows, however the intervention is merely shopping for time for a repair that foreign money purchases alone can not ship: a Financial institution of Japan (BOJ) charge hike, now penciled in for as early as September. Finance Minister Satsuki Katayama [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2753,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[176],"tags":[],"class_list":["post-2752","post","type-post","status-publish","format-standard","has-post-thumbnail","category-podcast"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v28.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Joint US-Japan currency intervention buys Tokyo time for a September rate hike - daily business egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dailybusiness.info\/?p=2752\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Joint US-Japan currency intervention buys Tokyo time for a September rate hike\" \/>\n<meta property=\"og:description\" content=\"&nbsp; Tokyo and Washington are collectively stepping in to arrest the JPY\u2019s slide to 40-year lows, however the intervention is merely shopping for time for a repair that foreign money purchases alone can not ship: a Financial institution of Japan (BOJ) charge hike, now penciled in for as early as September. 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