Yen Surges as Analysts Point to Signs of Japanese Authorities' Intervention

1. 1The yen rallied sharply on Thursday, and analysts said the move bore the hallmarks of official Tokyo intervention to prop up the currency at a 40-year low
2. 2The dollar slid as much as 3% from a 40-year high earlier in the week to 158.34 yen, heading for its biggest one-day decline since late 2022
3. 3The Ministry of Finance offered no comment, and whether intervention occurred remains unclear, though a BBVA strategist said the evidence strongly suggests official intervention

Source Reuters · View original ↗

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