UAE Chief Economic Adviser: Break 160 or trigger intervention

Muhammad El-Erian, the chief economic adviser to the League, stated that the fall of the yen to 160 yen per dollar would certainly exacerbate the market's speculation about Japan's intervention in the exchange market. Moreover, in a letter dated 27 August addressed to Senator Elizabeth Warren, United States finance minister Besent mentions that Japan is the main holder of United States Treasury bonds, and that the Japanese yen market disorder may trigger a forced silo, thereby destabilizing the global market and ultimately increasing the borrowing costs of American households and businesses。