Markets & Macro Archives - Juncture Policy

mBridge Can Now Move $1.7 Billion in Under an Hour. It’s Still 95 Percent One Currency.

September 18, 2026 by Walter Guevara

Network diagram of Project mBridge's six central bank participants, with line weight showing China's e-CNY share of an estimated 95 percent of settlement volume.

Bank of China moved $1.7 billion-plus through mBridge twice this summer. The platform works. It also runs about 95 percent on China’s e-CNY.

Yen Watch: Did Washington Help Tokyo Intervene on July 31?

August 3, 2026 by Walter Guevara

July 31 dollar-yen intraday path from about 158.9 to 157.6, marking a reported notepad plan, a reported bank notice, and the LSEG move; no official intervention confirmation at cutoff.

A Treasury Secretary’s notepad showing a $5-10 billion yen purchase plan, a reported Treasury bank notification, and a late-afternoon yen jump on July 31, 2026, point to possible U.S.-Japan intervention. This note is reported and developing, not confirmed. Official Japanese MOF transaction data, published with lag, is the upgrade trigger.