Very tense: Fed conducts "rate check" USD/JPY – Signals that the US may support Japan in intervening in the exchange rate!
According to Reuters (24/1/2026), the New York Federal Reserve (NY Fed) called to inquire about the USD/JPY rate from major banks – this is a "rate check" step in preparation for exchange rate intervention, marking the first sign of US involvement in this century.
Hot context:
The Japanese yen is at a record low (USD/JPY around 160-165), carry trade is booming but poses systemic risks.
Japan has previously intervened multiple times (2022, 2024) but with low effectiveness and high costs.
This time, if the US participates (similar to the Plaza Accord 1985), the USD may weaken significantly (a 50% drop in 2 years as before), with global liquidity surging.
Impact on the global economy:
Weak USD → commodities, securities outside the US rise sharply (the Plaza Accord previously drove gold and Japanese stocks to boom).
Abundant liquidity → risky assets benefit greatly.
Specific impacts on gold, silver, and BTC:
Gold & Silver: New ATH (gold 4,950 USD/oz, silver 98.85 USD/oz) will continue to rise sharply – weak USD makes precious metals more attractive, high demand for safe haven.
Bitcoin: In the short term, it may experience strong volatility (risk-off if intervention is sudden), but in the long term, it benefits greatly from increased global liquidity + weak USD (similar to the 2020-2021 period). If the USD drops significantly, BTC may breakout strongly to 100k+.
The situation is unclear whether the Fed will raise or lower intervention, but the "rate check" has been confirmed from a reputable source – be careful to monitor USD/JPY and Treasury yields! Do you think the USD will weaken further or will Japan handle it themselves? Comment below! 🔥📉
#usdjpy #CryptoMacro