Allianz Chief Economic Adviser: Yen Break Below 160 Could Trigger Intervention

According to Jin10, Allianz Chief Economic Adviser Mohamed El-Erian said two points about the yen are worth watching: if the yen falls again to 160 per dollar, it will intensify market speculation that Japan may intervene in the foreign exchange market, and U.S. Treasury Secretary Bessent said in an August 27 letter to Senator Elizabeth Warren that Japan is a major holder of U.S. Treasurys, while disorder in the yen market could trigger forced liquidations, undermine global market stability, and ultimately push up borrowing costs for U.S. households and businesses.