More to the Point: "Dollar / Yen in 20 please!".............BUT NO; Wait!
Intervention was executed via Two of the FED's more effective types; Goldman Sachs & Morgan Stanley.....effectively 'Filling the 'Pails of Water' of the Carry Trade types until a Minor Adjustment was made to Pricing in the symmetrical Risks that the Carry Traders believe were in their favor? NOW; NOT quite so?
Japan's Ministry of Finance via the BoJ & 'in concert' with the Bank of Korea (THIS = The Clue) utilized the FIMA (Collateralized $ Treasury Holdings of said Central Banks NO LESS) Facility with the FED to actuate the Intervention.
The OVERT Bessent 'leak' of Intervention "to do" list of US$5-$10 Billion WAS the Bait that the Party Boaters took as a 'Gotcha' moment......REALLY?
It's a Damn Message that intervention was to borrow a DJT term...'a love tap.' NOTHING more & using the EURO as the means ALSO a potential message (confirmation?) post the Bessent communication with the Chinese re: Trade & perhaps even the impending BoK & BoJ coordinated intervention.
"China's continued escalations will have consequences." Said whom? Bessent!
IT was a 'Flex' by Bessent to the Chinese pre: Trump- Xi meeting.
Coffee's expensive but NOT so prohibitive that the Click- Bait nor Ruminating Swooner Crooners can't 'wake up & smell the occasional Brew?'
Japan's running a Trade Surplus & RUDE Current Account Surplus; DON'T even go look @ Taiwan & South Korea! These guys DO NOT need Weak Currencies. Accordingly, the 'Japan's on the verge of collapse' crap needs an EDIT or 12 (G)? Their Income Statement bolstered by your Taxpayer $’s financing the % Pick- Up on Mrs Watanabe’s Carry Trade!
The old G3 vintage 'Raquet' to borrow a Tennis analogy from the 1980's dovetails nicely with Scott Bessent's vintage too.
Effective Global coordination by the G3 (say What?) to stare- down the Chinese Threat to Global Trade via BOTH their biggest destabilizing Weapon BUT also their ONLY means of avoiding a Domestic Economic collapse with the obvious repercussions for matters socio & political?
Bessent's playing 'For Keeps' with a Small Sweet Spot command that demands superior Hand- Eye- Stroke coordination; the likes of which the online & dare one opine....broader MSM analysis LACKS or is simply comfortable in the their collective ‘Pickle- Ball’ sophistry of swinging a Lumpen Piece of Wood @ a Leaden Round Target across a Net impersonating a Rubicon of Talent Measurement?
Imagine being 'brought up' & honed on Pickle= Ball skills & THEN having to run commentary on Connors - Borg - McEnroe....Nastase even with his unique & adroit skills!? Better still; Laver & Gonzalez with kill shot skills of marksmen & panthers?
Current commentary potentially CLUELESS in understanding & appreciating what they're viewing, No?
UNSEE it?