Japan suspected of yen intervention as currency nears 160 per dollar
Good intentions, undercooked execution. The bake is missing.
Summary
The article discusses the Japanese yen hovering near 160 per dollar, with a source indicating that intervention took place on April 30 and that price movements through May 6 show hallmarks of government purchases. This suggests Japanese authorities may have stepped in to support the currency.
Key quotes
· 2 pulledA person familiar with the matter said intervention took place on April 30
Price moves through May 6 bear the hallmarks of government purchases
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