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Instant View: Japan s Yen Jumps 5 Yen Against Dollar on Suspected Intervention

Instant View: Japan s Yen Jumps 5 Yen Against Dollar on Suspected Intervention
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Instant view: Japan s yen jumps 5 yen against dollar on suspected intervention

Traders had been on edge for any signs of action from Tokyo to prop up a currency that has fallen 11% against the dollar so far this year, as even a historic exit from negative rates has failed to lift the currency. Comments: PRASHANT NEWNAHA, SENIOR ASIA-PACIFIC RATES STRATEGIST, TD SECURITIES, SINGAPORE "The speed and magnitude of the move from 160 to 155 with the lack of bounce suggests official intervention. Timing couldn't have been better with low liquidity on a Japanese holiday.

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Instant view: Japan s yen jumps 5 yen against dollar on suspected intervention | WSAU News/Talk 550 AM · 99 9 FM

(Reuters) - The yen jumped suddenly against the dollar on Monday, with traders citing yen-buying intervention by Japanese authorities to boost the currency that is languishing near 34-year lows. The dollar fell sharply to 156.55 yen from as high.

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