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Q: What is JapanKoreaFXDefense?

JapanKoreaFXDefense is Japan and Korea both moved to defend their currencies on July 30. In New York, authorities were seen buying yen and selling dollars, pushing USD/JPY down 2.6% to near 159 after it hit its weakest since 1986. The won firmed 2% that day and over 8% across July. A record 11.73 trillion yen intervention in April-May had failed to hold the line. On July 31, the BOJ held its rate at 1% while warning core inflation runs above 2%. Neither government has officially confirmed intervening.. Follow this topic on OKX Orbit for the latest community posts and token insights.

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About JapanKoreaFXDefense

Japan and Korea both moved to defend their currencies on July 30. In New York, authorities were seen buying yen and selling dollars, pushing USD/JPY down 2.6% to near 159 after it hit its weakest since 1986. The won firmed 2% that day and over 8% across July. A record 11.73 trillion yen intervention in April-May had failed to hold the line. On July 31, the BOJ held its rate at 1% while warning core inflation runs above 2%. Neither government has officially confirmed intervening.

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