Yen in Focus as Japan MOF Signals Further Intervention After Coordinated Buying
Japan's Ministry of Finance confirmed a yen-buying operation on July 31 in coordination with the U.S. and warned it won't hesitate to act again, as the yen weakened to around 157.70 per dollar.
Early Asian trading is fixated on the Japanese yen, with markets bracing for additional joint intervention. Japan's Ministry of Finance disclosed that it conducted a yen-buying operation on July 31, acting in concert with U.S. authorities.
The MOF reiterated it stands ready to take further action if needed. The announcement comes as the yen slipped to around 157.70 against the dollar, reflecting persistent downward pressure.
Traders are now on high alert for any signs of coordinated moves that could reverse the yen's recent weakness.
Source: First Squawk