{
  "id": 109775,
  "title": "CNBC Daily Open: Fast and furious intervention to prop up the yen — will it work?",
  "url": "https://urgent.news/2026/08/04/cnbc-daily-open-fast-and-furious-intervention-to-prop-up-the-yen-will",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-04T00:52:30.000Z",
  "source": {
    "name": "CNBC World",
    "slug": "cnbc-world",
    "url": "https://www.cnbc.com/2026/08/04/cnbc-daily-open-japan-yen-intervention-oil-prices-amazon.html"
  },
  "original_language": "en",
  "account": "In another edition of CNBC's Daily Open, Hui Jie reported from Singapore, covering Japan's coordinated intervention alongside the U.S. to stabilize its weakening currency. This intervention, described as \"fast and furious,\" aimed to prevent the yen's drift and was facilitated by a lending facility requested by Treasury Secretary Scott Bessent. Despite the initial success in holding the yen's strength, analysts remain skeptical about its long-term sustainability, suggesting that Japan's policy mix is unlikely to generate sustained currency strength.\n\nMeanwhile, U.S. markets continued their upward trajectory, driven by strong performance in tech stocks. The S&P 500 approached its all-time high, only 0.3% away from the record set in early June. Amazon shares played a significant role in this rally, surging by 4% and reaching a new all-time high following a better-than-expected earnings report. This marked the company's highest valuation since May 5, placing its market capitalization above the $3 trillion threshold for the first time.\n\nFurthermore, President Donald Trump expressed dissatisfaction with the record-breaking profits of energy giants Exxon and Chevron, attributing their gains to rising crude oil prices due to the Iran conflict. He criticized the companies for making \"too much money\" in the current market conditions.\n\nIn a separate news segment, Hugging Face CEO Clément Delangue discussed China's dominance in artificial intelligence, particularly in open-weight models. Delangue argued that China's collaborative and open ecosystem in AI could potentially catch up to U.S. model makers by the end of this year or next year. He suggested that model makers in the U.S. are \"building in silos,\" which might hinder their progress and lead to falling behind in the AI race.",
  "summary": "Japan, having intervened to prop its weakening currency to little effect in the past, roped in the U.S. to stage a coordinated intervention.",
  "key_points": [
    "Japan and U.S. coordinate intervention to stabilize weakening yen",
    "Treasury Secretary Scott Bessent requests lending facility",
    "Analysts skeptical about long-term sustainability of intervention"
  ],
  "editors_take": "The swift intervention to prop up the yen underscores doubts about Japan's ability to achieve sustained currency strength with its current policy mix, while US tech stocks continue to thrive.",
  "illustration": "https://urgent.news/ill/109775.png",
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "CNBC",
        "title": "CNBC Daily Open: A U.S. yen intervention dressed in euros",
        "url": "https://urgent.news/2026/08/04/cnbc-daily-open-a-u-s-yen-intervention-dressed-in-euros",
        "published": "2026-08-04T07:01:46.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}