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Yen Weakens on US Data, Raising Risk of Japanese FX Intervention

From bnnbloomberg.ca

The yen is weakening toward 152 per dollar, a key level that traders see elevating risk that Japanese officials intervene in the market, as strong US factory data boosted the dollar. The Japanese currency slipped 0.2% against the dollar on Monday after data showed US factory activity unexpectedly expanding, reinforcing bets that the Federal Reserve will take its time in lowering interest rates. The move puts the yen, which last week touched its weakest level in 34 years, at about 151.70 per dollar. Traders are on high alert after Japanese Finance Minister Shunichi Suzuki said authorities are monitoring the yen with a ... (full story)

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  • Category: Fundamental Analysis