Traders Eye Yen for Further U.S.-Japan Intervention After Sharp Rebound
Market participants are monitoring the Japanese yen for signs of additional coordinated intervention by Japan and the U.S., following last week’s joint operations that caused a sharp rebound. Finance Minister Katayama may announce as soon as Monday that both governments are working together.
The yen’s sharp rebound last week was triggered by coordinated intervention from Japanese and U.S. authorities, and traders are now watching for signs of further joint action.
Finance Minister Katayama is expected to announce as early as Monday that the two governments are operating in tandem, signaling continued efforts to stabilize the currency.
The announcement would follow last week's rare joint operations, which underscored the commitment of both nations to curb excessive volatility in foreign exchange markets.
Source: First Squawk