USD/JPY Flat Near Six-Week High Amid Intervention Talk
USD/JPY traded little changed around 160.50 during Asian hours after hitting a six-week high of 160.56, with speculation of Japanese FX intervention limiting further upside.
USDJPY
The dollar-yen pair consolidated near 160.50 in Asian trading on Thursday, holding steady after a two-day rally that pushed it to a six-week peak of 160.56.
Traders attributed the lack of follow-through buying to possible foreign-exchange intervention by Japanese authorities, who have repeatedly warned against excess yen weakness. The pause at the multi-week high suggests caution ahead of any official confirmation or further action.
Source: FXStreet Forex News