Japanese Yen Extends Gains Versus Weaker U.S. Dollar
Dow Jones
Yesterday
1440 GMT - The Japanese yen builds on earlier gains versus the U.S. dollar. The dollar loses 2% to hit a one-month low of 155.32 yen, taking it close to the Aug. 3 low of 155.21 yen. The yen's rise comes amid chatter that authorities could again intervene in foreign-exchange markets. "Dollar/yen has continued to decline, as markets remain hesitant to test the Japanese and U.S. authorities' resolve to defend the yen," says BNY's Geoffrey Yu in a note. The dollar also extends falls after Fed Governor Christopher Waller pointed to signs of disinflation, which he said might leave him inclined to hold interest rates this month. The DXY dollar index falls to an 8-day low of 98.948.
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