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Sliding yen stokes intervention threat; US dollar reigns
The yen approached the closely watched 150 per dollar level on Monday and kept traders on intervention watch after the Bank of Japan and Governor Kazuo Ueda quashed hopes of any imminent move away from its stark ultra-loose monetary policy. In the broader currency market, the dollar was on the front foot, extending its gains from last week after a still-hawkish Federal Reserve surprised markets by signalling U.S. rates would need to stay higher for longer than initially expected. The yen fell to a more than 10-month low of 148.49 per dollar and remained within striking distance of 150, a level which some market ... (full story)