FOREX-Yen weakens, paring sharp rise after suspected intervention
6 months ago
11
The yen dropped against the dollar on Thursday, reversing direction after a sudden surge late on Wednesday that traders and analysts were quick to attribute to intervention by Japanese authorities. The dollar was already on the back foot as Fed Chair Jerome Powell confirmed the central bank's easing bias, even as he reiterated that sticky inflation meant interest rate cuts may be a while in coming. Japan's vice finance minister for international affairs, Masato Kanda, who oversees currency policy at the MOF, told Reuters he had no comment on whether Japan had intervened in the market.
We invite you to explore our website, engage with our content, and become part of our community. Thank you for trusting us as your go-to destination for news that matters.
Certain articles, images, or other media on this website may be sourced from external contributors, agencies, or organizations. In such cases, we make every effort to provide proper attribution, acknowledging the original source of the content.
If you believe that your copyrighted work has been used on our site in a way that constitutes copyright infringement, please contact us promptly. We are committed to addressing and rectifying any such instances
English (US) ·