UAE Chief Economic Adviser: Break 160 or trigger intervention

On 29 August, the Union ' s Chief Economic Adviser, Mohamed El-Elian, stated that two points concerning the yen deserved attention. In the first place, the fall of the yen to 160 yen per dollar will intensify the market’s speculation about Japan’s intervention in the exchange market. Secondly, in a letter dated 27 August addressed to Senator Elizabeth Warren, United States Treasury Secretary Besent mentioned that “Japan is the main holder of the United States Treasury debt, and a disordered Japanese dollar market could trigger a forced silo, thereby destabilizing the global market and ultimately increasing the borrowing costs of American households and businesses”