Japan sends caution on yen fluctuations, hints at potential intervention

Quick Summary:

The yen has lost 11 per cent against the dollar this year.

Kanda, who oversees Japan’s currency policy as vice finance minister for international affairs, declined to comment when asked about the yen’s recent declines.

While the suspected intervention has kept the yen from falling below the psychologically important 160-to-the-dollar line, the Japanese currency has yet to stage a clear rebound.It stood at 156.98 to the dollar on May 24, not far from the more than three-week low of 157.19 touched on Thursday.

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Article Details

Category: EconomyBusiness

Markets: SingaporeJapan

Topics: Rates Finance Kanda Dollar Market Excessive Action Currency Japan Japanese Moves

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News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-05-25 @ 02:33:32 (1 months ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 631 words

Reading Time: 4 minutes read

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Copyright Owner: © The Straits Times

News ID: 21078009

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