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Japan ramps up Yen intervention warning after BOJ-fueled sell-off
Traders are piling into fresh bets against the yen, triggering pushback from Japanese authorities who are threatening once again to take action including the possibility of currency intervention. The yen edged away from a year-to-date low Wednesday after Masato Kanda, the top currency official at the Finance Ministry, said authorities stand ready to act if needed. "We’re on standby,” Kanda told reporters. "But I can’t say what we’ll do, and when — we’ll make judgments overall, and we’re making judgments in a state of urgency.” The currency posted its biggest one-day drop since April on Tuesday ... (full story)