Japanese yen hits 40-year low against U.S. dollar, raising intervention expectations
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 heightened expectations that Japanese authorities may intervene in the foreign exchange market. Nomura's Julia Wang notes that while intervention isn't tied to specific exchange-rate levels, the new cycle low increases domestic concerns about currency weakness and the likelihood of official action. Any intervention impact on broader markets is expected to be short-lived.
Source
bskyJapanese yen hits 40-year low against U.S. dollar, raising intervention expectationscnbc.comKey quotes
· 2 pulledIntervention shouldn't be dependent on a certain level. It depends on the nature of the currency move, th
Japan could intervene in the foreign exchange market after the yen slid to a fresh multi-decade low, though she expects any impact on broader markets to be short-lived.
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