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Yellen Counsels Caution on Currency Intervention After Yen Surge
US Treasury Secretary Janet Yellen acknowledged sharp moves in the value of the yen this week, even as she declined to say whether Japan had intervened to support the currency. “I’m not going to comment on whether they did or didn’t intervene,” Yellen told reporters Saturday following a speech in Mesa, Arizona. “I think that that’s a rumor.” Still, she said the yen “did move quite a bit in a relatively short period of time,” adding, “we would expect these interventions to be rare and consultation to take place.” Japanese authorities appeared to enter the market to support the yen on two ... (full story)
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- Posted: May 5, 2024 1:09am
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