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Japan warns against yen sell-off, eyes intervention
Japanese policymakers kept up their warnings against investors selling off the Japanese currency as the dollar rose to a fresh 24-year high against the yen on Wednesday, raising speculation about a second round of intervention. The US currency rose to 146.35 yen, a level not seen since August 1998 during the Asian financial crisis, moving above levels that triggered intervention by Japanese authorities last month to stem excessive yen weakening. The yen was trading around 146.30 to the dollar around midday on Wednesday as traders braced for US inflation data and its implications on future US rate hikes. “We are ... (full story)
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