This is starting to look like a $JPY controlled demolition…

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The situation becomes more serious when the Bank of Japan (BOJ) is forced to intervene, potentially unleashing disorderly currency trading and “flash crash” contagion across the “carry trade” universe. Major currency crisis dynamics will be at full force when Beijing loses control of its renminbi currency peg. It’s a challenge to envisage a more precarious environment to be locked into a dollar-peg currency regime.

https://creditbubblebulletin.blogspot.com/2024/04/weekly-commentary-world-wide-de.html

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