Currency markets on guard for intervention in Japan's yen
Japanese officials may intervene to curb yen's slide amid bond yield rises while US financial institutions prepare to assist, signaling coordinated support in global currency markets.
- The Yen strengthened by 1% amid speculation that Japanese authorities might intervene to bolster the currency, possibly with the US's help.
- Dollar observers noted signs of US support for the Yen, reviving talks of coordinated currency intervention to lower the dollar against key trading partners.
- Dollar weakness was reported as it fell to 153.89 Yen amid discussions of potential joint intervention to support the Yen's value.
- Gold surpassed $5,000 per ounce for the first time, influenced by rising geopolitical risks and a retreat from fiat currencies.
52 Articles
52 Articles
Dollar slips across the board; yen higher on intervention risk
NEW YORK, Jan 26 : The U.S. dollar slipped across the board on Monday and the Japanese yen jumped to a more than two-month high on Monday as speculation mounted of coordinated currency intervention by authorities in the U.S. after remarks from Tokyo's prime minister and Japan's leading currency diplomat. Inv
Japan in Close Contact With US on Yen as Needed, FX Chief Says
Japanese Finance Minister Satsuki Katayama said that the government is responding to currency moves in line with the US-Japan joint statement, amid speculation the two countries coordinated on rate checks to prop up the yen on Friday.
The US dollar hits its lowest level in four months, while investors monitor a possible joint action by Washington with Japanese authorities.
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