Japan Intervened in Currency Market: Ministry of Finance

The transcript discusses recent interventions in the FX market by Japan's Ministry of Finance, highlighting a significant turnaround in the dollar-yen exchange rate. George Caravelas from Deutsche Bank provides an analysis, expressing skepticism about the effectiveness of these interventions due to a lack of coordination with the US and internal policy contradictions in Japan. The central bank is easing policy while the Ministry of Finance is attempting to strengthen the yen, leading to potential market confusion and limited impact.

How does selling reserves impact the market according to the discussion?

What does George Caravelas suggest about the future impact of the current interventions?