{"id":171693,"date":"2026-08-07T12:18:12","date_gmt":"2026-08-07T12:18:12","guid":{"rendered":"https:\/\/www.europesays.com\/cz\/171693\/"},"modified":"2026-08-07T12:18:12","modified_gmt":"2026-08-07T12:18:12","slug":"evropa-sedela-v-koute-jak-usa-podporily-japonce-evropskymi-penezi","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/cz\/171693\/","title":{"rendered":"Evropa sed\u011bla v\u00a0kout\u011b. Jak USA podpo\u0159ily Japonce evropsk\u00fdmi pen\u011bzi"},"content":{"rendered":"

Evropany p\u0159ekvapil zp\u016fsob, jak\u00fdm Spojen\u00e9 st\u00e1ty minul\u00fd t\u00fdden spolu s\u00a0Japonskem intervenovaly na podporu kurzu jenu. M\u00edsto dolar\u016f toti\u017e prod\u00e1valy eura, ale Evropskou centr\u00e1ln\u00ed banku (ECB) na to p\u0159edem neupozornily. Washington j\u00ed to ozn\u00e1mil, a\u017e byla intervence provedena. S\u00a0odkazem na informovan\u00e9 zdroje to napsal server britsk\u00e9ho ekonomick\u00e9ho den\u00edku Financial Times<\/a>.<\/p>\n

Prezidentka ECB Christine Lagardeov\u00e1 o\u00a0intervenci hovo\u0159ila s\u00a0americk\u00fdm ministrem financ\u00ed Scottem Bessentem v\u00a0sobotu, tedy a\u017e den po intervenci, uvedl jeden ze zdroj\u016f. Nedostatek koordinace zd\u016fraz\u0148uje neobvyklou povahu prvn\u00edho spole\u010dn\u00e9ho \u00fasil\u00ed Washingtonu a\u00a0Tokia o\u00a0podporu jenu za t\u00e9m\u011b\u0159 30\u00a0let, p\u00ed\u0161e britsk\u00fd list. Spojen\u00e9 st\u00e1ty by p\u0159i takov\u00e9 operaci asi jinak pou\u017eily dolary.<\/p>\n

<\/a><\/p>\n

N\u011bkte\u0159\u00ed vysoce postaven\u00ed p\u0159edstavitel\u00e9 ECB pova\u017eovali rozhodnut\u00ed Washingtonu pou\u017e\u00edt v\u00a0t\u00e9to operaci eura za bezprecedentn\u00ed poru\u0161en\u00ed dlouhodob\u00fdch zvyklost\u00ed spolupr\u00e1ce mezi z\u00e1padn\u00edmi m\u011bnov\u00fdmi institucemi, uvedly tyto osoby.<\/p>\n

Od druh\u00e9 sv\u011btov\u00e9 v\u00e1lky z\u00e1padn\u00ed centr\u00e1ln\u00ed banky a\u00a0ministerstva financ\u00ed zd\u016fraz\u0148uj\u00ed vz\u00e1jemnou d\u016fv\u011bru a\u00a0konzultace. P\u0159edchoz\u00ed z\u00e1sahy na m\u011bnov\u00fdch trz\u00edch se obvykle odehr\u00e1valy koordinovan\u00fdm zp\u016fsobem.<\/p>\n

Prodej eur, kter\u00fd jm\u00e9nem americk\u00e9ho ministerstva financ\u00ed provedla Feder\u00e1ln\u00ed rezervn\u00ed banka v\u00a0New Yorku, byl podle zdroje obezn\u00e1men\u00e9ho s\u00a0diskusemi mezi evropsk\u00fdmi p\u0159edstaviteli hospod\u00e1\u0159sk\u00e9 politiky \u201evelmi pozoruhodn\u00fd a\u00a0smutn\u00fd\u201c.<\/p>\n

\u201eTohle se nikdy p\u0159edt\u00edm nestalo,\u201c uvedl zdroj FT. Des\u00edtky let \u00fazk\u00e9 spolupr\u00e1ce mezi z\u00e1padn\u00edmi centr\u00e1ln\u00edmi bankami, kter\u00e1 podporovala finan\u010dn\u00ed stabilitu a\u00a0hospod\u00e1\u0159sk\u00fd r\u016fst, mohou b\u00fdt v\u00a0ohro\u017een\u00ed, dodal.<\/p>\n

Mluv\u010d\u00ed americk\u00e9ho ministerstva financ\u00ed FT sd\u011blil, \u017ee ministerstvo p\u0159i rozhodov\u00e1n\u00ed o\u00a0rozd\u011blen\u00ed rezerv v\u00a0r\u00e1mci sv\u00e9ho Fondu stabilizace sm\u011bnn\u00fdch kurz\u016f nekoordinovalo sv\u00e9 kroky se zahrani\u010dn\u00edmi \u00fa\u0159ady. Pr\u00e1v\u011b tento fond, jeho\u017e p\u016fvodn\u00ed n\u00e1zev je Exchange Stabilization Fund, ministerstvo k\u00a0intervenci pou\u017eilo.<\/p>\n

\u201eRozhodnut\u00ed t\u00fdkaj\u00edc\u00ed se rozd\u011blen\u00ed prost\u0159edk\u016f Fondu stabilizace sm\u011bnn\u00fdch kurz\u016f p\u0159ij\u00edm\u00e1 americk\u00e9 ministerstvo financ\u00ed s\u00a0p\u0159ihl\u00e9dnut\u00edm k\u00a0hodnocen\u00ed likvidity trhu, ocen\u011bn\u00ed a\u00a0dal\u0161\u00edch relevantn\u00edch faktor\u016f ze strany ministerstva financ\u00ed a\u00a0Feder\u00e1ln\u00edho rezervn\u00edho syst\u00e9mu,\u201c uvedl mluv\u010d\u00ed. \u201eV souladu s\u00a0touto pravomoc\u00ed ministerstvo minul\u00fd t\u00fdden p\u0159erozd\u011blilo rezervn\u00ed aktiva v\u00a0r\u00e1mci Fondu stabilizace sm\u011bnn\u00fdch kurz\u016f,\u201c dodal.<\/p>\n

\u201eMy respektujeme d\u016fv\u011brnost soukrom\u00fdch rozhovor\u016f s\u00a0na\u0161imi mezin\u00e1rodn\u00edmi partnery, na rozd\u00edl od ECB,\u201c uvedl vysoce postaven\u00fd p\u0159edstavitel administrativy prezidenta Donalda Trumpa. ECB ani Feder\u00e1ln\u00ed rezervn\u00ed banka v\u00a0New Yorku se k\u00a0v\u011bci nevyj\u00e1d\u0159ily.<\/p>\n

<\/a><\/p>\n

Americk\u00e9 \u00fa\u0159ady prod\u00e1valy eura, proto\u017ee prodej dolar\u016f by mohl b\u00fdt vn\u00edm\u00e1n jako krok k\u00a0oslaben\u00ed americk\u00e9 m\u011bny a\u00a0podkop\u00e1n\u00ed politiky siln\u00e9ho dolaru, jak ji prezentuje ministr Bessent.<\/p>\n

Ekonomov\u00e9 a\u00a0n\u011bkte\u0159\u00ed analytici tak\u00e9 spekulovali, \u017ee se Washington v\u00a0intervenci p\u0159ipojil k\u00a0Japonsku s\u00a0c\u00edlem zabr\u00e1nit Tokiu v\u00a0prodeji americk\u00fdch st\u00e1tn\u00edch dluhopis\u016f v\u00a0dob\u011b, kdy se dlouhodob\u00e9 n\u00e1klady na financov\u00e1n\u00ed st\u00e1tn\u00edho dluhu v\u00a0USA pohybuj\u00ed pobl\u00ed\u017e maxima za 19\u00a0let.<\/p>\n

Analytici na z\u00e1klad\u011b p\u0159edb\u011b\u017en\u00fdch \u00fadaj\u016f japonsk\u00e9 centr\u00e1ln\u00ed banky odhaduj\u00ed, \u017ee samotn\u00e9 Japonsko mohlo za dva dny vynalo\u017eit na podporu jenu p\u0159ibli\u017en\u011b 13,8\u00a0bilionu jen\u016f (1,85\u00a0bilionu K\u010d).<\/p>\n

\u201eZd\u00e1 se, \u017ee Japonsko za pouh\u00e9 dva obchodn\u00ed dny pou\u017eilo v\u00edce prost\u0159edk\u016f ne\u017e v\u00a0dob\u011b sv\u00e9 p\u0159edchoz\u00ed rekordn\u00ed interven\u010dn\u00ed kampan\u011b (v objemu 11,73\u00a0bilionu jen\u016f v\u00a0dubnu a\u00a0kv\u011btnu), co\u017e podtrhuje obavy \u00fa\u0159ad\u016f z\u00a0rychl\u00e9ho oslabov\u00e1n\u00ed jenu,\u201c uvedl analytik spole\u010dnosti Mizuho Masajuki Nakad\u017eima.<\/p>\n

Intervence, kter\u00e1 moc nezabrala<\/p>\n

Intervence Spojen\u00fdch st\u00e1t\u016f a\u00a0Japonska kurz jenu prudce zv\u00fd\u0161ily\u00a0\u2013 z\u00a0t\u00e9m\u011b\u0159 164\u00a0jen\u016f za dolar na za\u010d\u00e1tku tohoto m\u011bs\u00edce, co\u017e byla nejslab\u0161\u00ed \u00farove\u0148 od roku 1986, zhruba na 157\u00a0jen\u016f. Od t\u00e9 doby jen op\u011bt oslabil a\u00a0dostal se k\u00a0dolaru asi na 158\u00a0jen\u016f. Podle obchodn\u00edk\u016f p\u0159etrv\u00e1vaj\u00ed obavy, \u017ee japonsk\u00e1 centr\u00e1ln\u00ed banka nepostupuje dostate\u010dn\u011b rychle p\u0159i omezov\u00e1n\u00ed rostouc\u00ed inflace.<\/p>\n

P\u0159esto\u017ee japonsk\u00e1 centr\u00e1ln\u00ed banka na sv\u00e9m posledn\u00edm zased\u00e1n\u00ed ponechala \u00farokov\u00e9 sazby beze zm\u011bny, guvern\u00e9r Kazuo Ueda upozornil na riziko r\u016fstu spot\u0159ebitelsk\u00fdch cen. \u201eDomn\u00edv\u00e1me se, \u017ee je nyn\u00ed v\u00edce ne\u017e v\u00a0minulosti nutn\u00e9 v\u011bnovat pozornost rizik\u016fm dal\u0161\u00edho r\u016fstu inflace,\u201c \u0159ekl.<\/p>\n

Obchodn\u00edci te\u010f vid\u00ed 44procentn\u00ed pravd\u011bpodobnost, \u017ee japonsk\u00e1 centr\u00e1ln\u00ed banka na sv\u00e9m p\u0159\u00ed\u0161t\u00edm zased\u00e1n\u00ed v\u00a0z\u00e1\u0159\u00ed zv\u00fd\u0161\u00ed \u00farokov\u00e9 sazby. Z\u00e1kladn\u00ed sazba je od \u010dervna na \u00farovni 1,00\u00a0procenta, co\u017e je nejv\u00fd\u0161e od roku 1995.\u00a0Japonsko m\u011blo des\u00edtky let velmi n\u00edzk\u00e9 \u00faroky, po ur\u010ditou dobu i\u00a0z\u00e1porn\u00e9.<\/p>\n

Zpevn\u011bn\u00ed kurzu jenu prov\u00e1zel prudk\u00fd r\u016fst v\u00fdnos\u016f dlouhodob\u00fdch americk\u00fdch st\u00e1tn\u00edch dluhopis\u016f. Obchodn\u00edci za\u010dali zapo\u010d\u00edt\u00e1vat vy\u0161\u0161\u00ed riziko, \u017ee americk\u00e1 centr\u00e1ln\u00ed banka (Fed) \u00farokov\u00e9 sazby ze sou\u010dasn\u00e9 \u00farovn\u011b nezv\u00fd\u0161\u00ed. P\u0159esto\u017ee inflace v\u00a0USA v\u00a0\u010dervnu zpomalila, st\u00e1le z\u016fst\u00e1v\u00e1 v\u00fdrazn\u011b nad dvouprocentn\u00edm c\u00edlem Fedu. Z\u00e1kladn\u00ed \u00farok v\u00a0USA je v\u00a0p\u00e1smu 3,50\u00a0a\u017e 3,75\u00a0procenta.<\/p>\n","protected":false},"excerpt":{"rendered":"Evropany p\u0159ekvapil zp\u016fsob, jak\u00fdm Spojen\u00e9 st\u00e1ty minul\u00fd t\u00fdden spolu s\u00a0Japonskem intervenovaly na podporu kurzu jenu. M\u00edsto dolar\u016f toti\u017e…\n","protected":false},"author":2,"featured_media":171694,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[3],"tags":[10634,9622,109,108,106,20340],"class_list":["post-171693","post","type-post","status-publish","format-standard","has-post-thumbnail","category-evropa","tag-americky-dolar","tag-euro-mena","tag-europa","tag-europe","tag-evropa","tag-intervence"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@cz\/117054190913850912","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/171693","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/comments?post=171693"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/171693\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media\/171694"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media?parent=171693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/categories?post=171693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/tags?post=171693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}