The dollar dropped sharply against the Japanese yen on Thursday, in the first intervention to support its currency since 1998, after the Bank of Japan bucked...
The dollar dropped sharply against the Japanese yen on Thursday, in the first intervention to support its currency since 1998, after the Bank of Japan bucked the trend of other central banks by not hiking interest rates.
Masato... The dollar dropped sharply against the Japanese yen on Thursday, in the first intervention to support its currency since 1998, after the Bank of Japan bucked the trend of other central banks by not hiking interest rates. Masato Kanda, the vice finance minister for international affairs, was quoted by Bloomberg as saying the country took bold action in markets.
“The big question is whether it will make a difference and change the long-term direction of the Japanese yen’s decline,” said Michael Hewson, chief markets analyst at CMC Markets UK. “The 145/146 level does appear to be a level the Bank of Japan seems keen to defend at the moment given that last week’s rate check happened around similar levels.”
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