US EditionYen Strengthens Amid Speculation of Japanese Intervention
The yen surged nearly 2 yen intraday amid speculation of intervention after the Bank of Japan kept policy rates unchanged and revised inflation outlook upward.
- On Friday, the yen jumped nearly 2 yen to the lower 157 level amid growing speculation of possible intervention by Japanese authorities.
- BOJ comments and an inflation outlook upgrade pushed bond-market expectations higher as Governor Kazuo Ueda said the BOJ can increase bond-buying in `exceptional cases`.
- Yield and FX close data showed higher 10-year JGB yields at 2.255 percent and the dollar fetched 158.77 yen at 5 p.m., with cross-market quotes noted late Thursday afternoon.
- The Topix finished higher, led by pharmaceutical and bank names, as the 225-issue Nikkei Stock Average rose 157.98 points to 53,846.87 and the broader Topix climbed 13.32 points to 3,629.70.
- Some investors rushed to buy the yen after Ueda's remarks, but Yuzo Sakai stated, `It is unlikely that a yen-buying intervention has taken place`, noting the currency then fell back toward the lower 158.77 range.
13 Articles
13 Articles
Yen jumps in volatile trade amid intervention caution, after BOJ decision
The yen jumped against the U.S. dollar on Friday, rising by nearly 2 yen at one point to the lower 157 level, on growing speculation about possible intervention by Japanese authorities after the Bank of Japan's decision left the yen weak.
Yen Strengthens Amid Speculation of Japanese Intervention
Yen Strengthens Amid Speculation of Japanese Intervention The yen experienced a sudden surge on Friday, sparking speculation in the market that Japanese authorities had initiated a rate check, hinting at possible intervention to stabilize their currency.Despite the absence of direct intervention, traders remain wary of potential Tokyo actions. The dollar, meanwhile, is undergoing its steepest weekly decline since June, fueled by geopolitical unr…
Yen spikes briefly as Japan officials stay silent on intervention talk
Japan’s currency moved sharply on Friday morning before settling back down, prompting questions about whether officials might step in to support the weakening yen. The dollar climbed past the 159.00 mark against the yen after Bank of Japan Governor Ueda gave few clues about plans to help the currency. He talked mainly about working with government officials to keep the bond market stable. But the dollar’s rise didn’t last long. Selling pressure …
Dollar Retreats and Precious Metals Surge to Record Highs
The dollar index (DXY00 ) on Friday tumbled to a 3.5-month low and finished down by -0.82%. Friday's yen strength undercut the dollar after the yen whipsawed from a 1-week low up to a 4-week high on speculation that the Japanese government was intervening in the forex market to support...
The foreign exchange market closes the week with maximum volatility. This Friday, the Japanese yen registered a sudden rise that has unleashed strong speculation about a possible intervention by the Japanese authorities to curb its weakness. This movement, known as "rate control", is usually the first step before the central bank injects capital to rescue its currency. Meanwhile, the US dollar is heading to record its biggest weekly fall since J…
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