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Yen Weakens Past ¥160 per Dollar, Eroding Intervention Gains
Hedge funds renewed short bets as the dollar strengthened, erasing more than half of the yen’s gains from July intervention.
Summary by The Japan Times
6 Articles
6 Articles
The Japanese currency once again loses value against the dollar and falls short of the 160 yen mark per dollar, making it more likely to raise interest rates.
·Düsseldorf, Germany
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On the 28th, the yen depreciated against the dollar in the New York foreign exchange market, briefly reaching 160.20 yen to the dollar. Expectations of an early US interest rate hike strengthened, increasing pressure for a weaker yen and a stronger dollar. This was the first time the yen had reached the 160 yen level since July 31st, when coordinated US-Japan intervention occurred to buy yen. The yen's depreciating trend remains unchanged…
·Japan
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Total News Sources6
Leaning Left0Leaning Right3Center2Last UpdatedBias Distribution60% Right
Bias Distribution
- 60% of the sources lean Right
60% Right
C 40%
R 60%
Factuality
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