Gold Holds Gain as Japan Currency Intervention Weighs on Dollar - Bloomberg.com
Gold Holds Gain as Japan Currency Intervention Weighs on Dollar - Bloomberg.com
Source: Bloomberg.com
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DW NOTE
Japan burning reserves to defend a currency peg no one believes in. The BOJ has spent roughly $60 billion intervening this year while holding rates at 0.25% — so they're simultaneously printing yen and buying it back with dollars. Gold at $4,163 is the market's verdict on how that ends.