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

Reuters ·

BBVA Banco Bilbao Vizcaya Argentaria SA ADR
$25.66 -3.24%
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  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

This 3-line summary is compiled from the report below.

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