Yen Consolidates; May be Supported by Lingering Risks of FX Intervention

Dow Jones
3小时前

0020 GMT - The yen consolidates against other Asian and G-10 currencies in early trade, but may be supported by lingering risks of FX intervention. The sharp yen rally overnight sparked speculation that the authorities conducted a "rate check" on the exchange rate, a precursor of intervention, CBA's Carol Kong says in a research report. The yen earlier strengthened Wednesday due to BOJ board member Takata's remarks raising prospects of "back-to-back rate hikes and potential for a larger-than-usual rate increase," the economist and currency strategist adds. The U.S. dollar is 0.1% higher at 158.85 yen while the Australian dollar is 0.1% lower at 113.75 yen, LSEG data show.

 

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