Japan Shifts to Covert Currency Intervention Strategy on July 3, DBS Strategist Says

According to Jin10, DBS Group's senior FX strategist Philip Wee said on July 3 that Japan may be shifting to covert currency intervention. Wee noted that such intervention during today's thinly traded U.S. bond and equity markets—due to the Independence Day holiday—could amplify market volatility. The new strategy, he added, appears aimed at shifting market sentiment from skepticism to caution.
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