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The Japanese government, working through the Bank of Japan, just set $35 billion on fire. Then flushed it down the toilet. And if that wasn’t enough, officials in Tokyo are talking about embarrassing themselves in the oil market. Wasting five and half trillion yen in FX wasn’t enough, throw some more money down the hole and all for the public spectacle of it. What a world we live in. Unfortunately for them, and for their counterparts in India, this is the eurodollar’s world.

Eurodollar University's Money & Macro Analysis

Phone Warning Shows Yen Intervention Is the New Normal
https://www.bloomberg.com/opinion/articles/2026-05-01/katayama-phone-warning-shows-yen-intervention-is-the-new-normal

Yen’s Correlation With Oil Hit 2021 High Before Intervention
https://www.bloomberg.com/news/articles/2026-05-01/yen-s-correlation-with-oil-hit-2021-high-before-intervention

Japan Is Said to Sound Out Market on Oil Futures Intervention
https://www.bloomberg.com/news/articles/2026-03-24/japan-is-said-to-sound-out-market-on-oil-futures-intervention

RBI’s Short Dollar Book Surges Past $100 Billion for First Time
https://www.bloomberg.com/news/articles/2026-04-30/rbi-s-short-dollar-book-surges-past-100-billion-for-first-time

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