Japanese yen and US dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken on Jun 16, 2022. NEW YORK/LONDON/TOKYO :The yen strengthened sharply against the dollar on Tuesday, leading some in the market to believe Japanese policymakers had intervened - although others said the size of the move was not convincing enough.
However, Colin Asher, senior economist at Mizuho in London, said the size of the move compared to prior interventions looked small. "The market is obviously very nervous around these levels at 150. For me, it's nervousness with traders cutting their long positions," said Niels Christensen, chief analyst at Nordea in Copenhagen.
A senior Japanese ministry of finance official declined to comment on whether Japan had intervened in foreign exchange markets. The New York Federal Reserve did not respond to requests for comment.
Source: News Formal (newsformal.com)
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