Yen Consolidates; May be Supported by Lingering Risks of FX Intervention
Dow Jones
7 hours ago
0020 GMT - The yen consolidates against other Asian and G-10 currencies in early trade, but may be supported by lingering risks of FX intervention. The sharp yen rally overnight sparked speculation that the authorities conducted a "rate check" on the exchange rate, a precursor of intervention, CBA's Carol Kong says in a research report. The yen earlier strengthened Wednesday due to BOJ board member Takata's remarks raising prospects of "back-to-back rate hikes and potential for a larger-than-usual rate increase," the economist and currency strategist adds. The U.S. dollar is 0.1% higher at 158.85 yen while the Australian dollar is 0.1% lower at 113.75 yen, LSEG data show.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.