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Japanese yen strengthens sharply after hitting 160 against dollar for the first time since 1990
The Japanese yen weakened to 160 against the U.S. dollar in Monday morning trading in Asia. The yen briefly touched 160.03 against the dollar, the weakest level since April 1990 when it touched 160.15, according to FactSet data. The currency strengthened by midday to trade around 156.5 against the dollar. The Commonwealth Bank of Australia said Japan’s Ministry of Finance is expected to publish Tuesday its market intervention statistics for March 28 to April 26. It said, however, “We have not seen any media reports that confirm intervention.” “Today’s JPY volatility may reflect the skittishness of markets ... (full story)
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