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Japanese Yen
News updates related to the Japanese Yen
The Japanese yen is nearing 160 JPY/USD despite a record $73.6 billion intervention package.
The Japanese currency recorded the worst performance among G10 currencies in May. Market attention is now focused on the Bank of Japan's (BOJ) policy meeting on June 16th.
Market
The DXY index reached 98.235 points as the US dollar strengthened due to tensions in the Middle East.
The US dollar maintained its upward trend against major currencies during the May 8th trading session. Concerns about geopolitical risks prompted investors to seek safe-haven assets.
Japan is ready to intervene in the market as the yen approaches the 160 JPY/USD mark.
Finance Minister Satsuki Katayama affirmed that Japan is maintaining the highest level of vigilance and is ready to take decisive steps to stabilize the exchange rate.
The Japanese yen recovered to 155.8 JPY/USD following signals from the central bank.
The Japanese yen rebounded from a two-week low on expectations of tighter policy from the Bank of Japan, despite pressure from Prime Minister Sanae Takaichi's dovish stance.
The Japanese yen fell close to 159 JPY/USD ahead of the Bank of Japan's policy meeting.
The yen and Japanese government bonds were sold off sharply as markets worried that loose fiscal policies from Prime Minister Sanae Takaichi would put pressure on the exchange rate.
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