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...NGOs typically publish a “theory of change” that explains how they will bring about desired social changes by spending donors’ money....
...This gives it unmatched authority to compel corporate decarbonisation through investment decisions and shareholder activism....
...This week economic data from the US reduced expectations for interest rate cuts, leading Asian currencies to fall against the dollar....
...Policymakers in recent weeks have ramped up warnings about the yen’s weakness with finance minister Shunichi Suzuki saying this week that he wouldn’t rule out any steps to address excessive moves....
...Sometimes this takes the form of bribes....
...Mdinaradze has also accused NGOs of trying to drag Georgia into the war in Ukraine....
...The other interesting quirk of this is, you know, as the yen appreciates and as the yen starts to resemble other currencies, you’re not going to have as many people able to rely on the yen in bad times....
...That means investors borrow yen to buy higher-yielding currencies and other assets. This in turn puts pressure on the yen when it is sold to carry out such purchases....
...Traders recently aligned with the Fed’s expectations for three rate cuts this year....
...“Given the paring back of Fed cuts this year, there is a widespread perception among macro investors that intervention will merely serve to slow down, not arrest, yen depreciation,” added Shatil....
...“But, more importantly, this time is because the yen has depreciated so much — without any intervention from the Bank of Japan. That forced us to follow through.”...
...US markets rallied after data showed easing inflation and supported expectations that the Federal Reserve will cut interest rates this year....
...This week, Japan’s top currency official, Masato Kanda, warned speculators against further attempts to sell off the yen and said “all options” were under consideration by the authorities....
...Switzerland will suspend funding for 11 NGOs in Palestine and Israel, and will assess its stance on Hamas’ attack on Israeli civilians earlier this month, as well as Israel’s subsequent military response...
...This has helped keep the yen stable, trading within a relatively tight range for much of the past 35 years....
...One way to see this is that other currencies have weakened against the dollar in a similar way as the yen. The US dollar index is up 3 per cent this year....
...In the simplest terms, a straight bet on a stronger yen at this point requires an investor to hold yen that in effect yield nothing in favour of dollars yielding the Federal Reserve’s 5.5 per cent....
...“Passing this law is a question of survival for the Georgian dream . . ....
...Pelham Smithers, a veteran strategist of Tokyo equities, said: “We have had some strange days on the Japanese market this year, but possibly none stranger than today.”...
...Mentioned in this podcast: End of negative interest rates in Japan raises threat of yen volatility US small-caps suffer worst run against larger stocks in over 20 years Disney settles lawsuit in Florida...
...Resilient labour market data in the US this week has dented expectations that the country will lower interest rates early in 2024 and narrow an interest rate differential between the country and Japan....
...“The labour market has still not converged,” said Hugo Marques de Sousa, 23, who graduated from the Nova School this month....
...The comments were an indication of their concern at the scale of the dollar’s gains against Asian currencies after US inflation data led markets to scale back expectations of Federal Reserve rate cuts this...
...Saskia Ozinga Co-Founder, Fern NGO, Charlbury, Oxfordshire, UK...
...The market is now expecting between one and two quarter-point cuts this year, compared with the six or seven cuts predicted in January....
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