Economy · Brief
Yen Weakens Again as the Risk of Intervention Rises
The dollar neared 160 yen on bets of more Fed rate rises, a level that has drawn action from Tokyo before.
Kunkafa News · Published · 2 min read
By Kareem FaridDiscuss with the author on X
Key points
- The dollar reached about 159.94 yen, a two-month high.
- Bank of Japan board member Toichiro Asada urged caution on the pace of rate rises.
The yen fell as traders priced in more US rate rises, XTB wrote, which raises the risk that Japan’s authorities step in to support the currency.
Asada said he does not oppose rate rises but argued that recent price gains in Japan were mostly driven by supply.
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