Japanese yen hits 40-year low against U.S. dollar, raising intervention prospects
By
Lee Ying Shan
Summary
The Japanese yen has weakened to its lowest level against the U.S. dollar since 1986, reaching a 40-year low. This has put investors on alert for possible intervention from Japanese authorities. Nomura's North Asia chief investment officer Julia Wang noted that while intervention isn't tied to any specific exchange-rate level, the new cycle low could heighten domestic concerns about currency weakness and increase the likelihood of official action. She expects any impact from intervention on broader markets to be short-lived.
Source
bskyJapanese yen hits 40-year low against U.S. dollar, raising intervention prospectscnbc.comKey quotes
· 2 pulledIntervention shouldn't be dependent on a certain level. It depends on the nature of the currency move.
Japan could intervene in the foreign exchange market after the yen slid to a fresh multi-decade low, although she expects any impact on broader markets to be short-lived.
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