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Yen jumps on possible intervention, sterling hits one-year high
The yen rose sharply on Wednesday in a move that was suspected to be the result of another intervention from Japanese officials to buttress the long-battered currency from multi-decade lows. The yen has posted several outsized moves in recent days, appreciating sharply on Thursday and Friday from 38-year lows of 161.96 per dollar, sudden rallies which market participants said had the signs of currency intervention. Bank of Japan data released on Tuesday suggested Tokyo may have spent 2.14 trillion yen ($13.5 billion) intervening on Friday. Combined with the estimated amount spent on Thursday, Japan is suspected to ... (full story)
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- Posted: Jul 17, 2024 4:42pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 3,171
