USD/JPY Falls as Yen Recovers Weekly Losses
USD/JPY dropped to 161.67 on Friday as the yen fully recovered its losses from earlier in the week, with market participants increasing expectations of Japanese intervention.
USDJPY
The USD/JPY pair fell to 161.67 on Friday, with the Japanese yen reversing all of its losses from the start of the week. The move comes as traders reassess the likelihood of intervention by Japanese authorities after the yen approached nearly 40-year lows against the dollar.
Expectations of official action have risen following the currency's recent slide, keeping the market on alert for potential yen-buying operations. The pair remains sensitive to verbal and direct intervention signals from Tokyo.
Source: FXStreet Forex News