Japanese Yen Edges Higher on Intervention Risks, Stays Near 4-Decade Low
USD/JPY slipped in Asian trading on Thursday as speculation of Japanese intervention to support the yen pushed bulls to the sidelines. The yen remains near its weakest against the dollar in four decades.
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The Japanese yen edged higher against the US dollar during Thursday's Asian session, as traders grew cautious over potential intervention by Japanese authorities. The USD/JPY pair ticked lower, with the yen still close to the four-decade low it hit earlier.
Market participants are wary that the Bank of Japan or Ministry of Finance may step in to prop up the domestic currency. The yen remains under pressure from the wide interest rate differential between Japan and the US.
Source: FXStreet Forex News