Yen Traders Brace for Holiday Intervention Risk Around Bank of Japan
5 Articles
5 Articles
The yen comes back with power – and makes several central trades on the financial markets waver. Within just 48 hours, Japan's currency valued around three percent against the dollar, while gold rose sharply. André Stagge is behind this more than just the fear of an intervention by the Bank of Japan. [...] The post yen explodes: Why Japan's counterstrike drives gold appeared first on financial marketwelt.de.
In the foreign exchange market, the Japanese yen became the most notable phenomenon, surging more than 2% against the US dollar during European trading hours. Japan spent a record amount of money to prop up the yen. The yen plummeted despite tens of billions of dollars in intervention by the US and Japan. The AUD could approach its highest level in three decades against the yen.
The price of spot gold rose to 1.4%, exceeding US$4,440 an ounce, after having increased more than 1% the previous day
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