After Overnight Collapse To 34-Year-Lows, Yen Surges In Apparent 'Intervention' [zero hedge]
Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) (SMFG)
US:NYSE Investor Relations:
smfg.co.jp/english/investor
Company Research
Source: zero hedge
After Overnight Collapse To 34-Year-Lows, Yen Surges In Apparent 'Intervention' The Japanese Yen strengthened sharply overnight after crashing to its lowest level since April 1990, breaking 160/USD. The FT reports that traders in Hong Kong, Australia and London said it was “highly likely” that the recovery was due to Japan’s finance ministry selling dollar reserves and purchasing the Japanese currency for the first time since late 2022. While analysts suggested the size and speed of the jump smacked of intervention, some traders questioned that conclusion and said Japanese banks sold dollars for customers as it rallied. Japan’s top currency official, Masato Kanda, chose to keep investors guessing by declining to comment. "It is difficult to ignore the bad effects that these violent and abnormal movements [in currencies] will cause for the nation's economy," Kanda told reporters on Monday. Dow Jones reported authorities stepped in to support the yen, citing people familiar with the mat
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News
- Yen Escapes Intervention Zone Helped by Decline in US Yields [Yahoo! Finance Canada]Yahoo! Finance Canada
- Yen Escapes Intervention Zone Helped by Decline in US Yields [Yahoo! Finance]Yahoo! Finance
- Yen Escapes Intervention Zone Helped by Decline in US Yields [BNN Bloomberg (Canada)]BNN Bloomberg
- Japan's economy contracts in first quarter [CNN]CNN
- Japan's economy contracts in first quarter [CNN]CNN
SMFG
Sec Filings
- 5/15/24 - Form 6-K
- 5/15/24 - Form 6-K
- 5/15/24 - Form 6-K
- SMFG's page on the SEC website