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US dollar hits 150 yen then dips on intervention jitters

From msn.com

The dollar touched the closely watched 150 level against the yen on Friday after the benchmark 10-year Treasury yield briefly hit 5% late on Thursday as investors positioned for the Federal Reserve to hold rates higher for longer. A move above 150 is seen in the market has having the potential to spur an intervention by Japanese monetary officials concerned about the currency weakening too far. It reached 150.165 on Oct. 3 before rallying back to 147.3, but market participants say it is not clear whether the move resulted from an intervention by the Ministry of Finance (MOF) or was caused by market nerves, a trade ... (full story)

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  • Category: Fundamental Analysis