The Japanese yen weakened to as low as 145.22 per dollar in early Asian hours, its lowest since Nov. 10 2022 before quickly reversing course. It was last at 144.96 per dollar, flat on the day.
Japan intervened in currency markets last September when the dollar rose past 145 yen, which prompted the Ministry of Finance to buy the yen and push the pair back to around 140 yen. The yen is down over 9% against the dollar for the year.warning of interventionSaxo Markets strategists said this week's GDP and CPI data in Japan could be key, as well as U.S. data which could continue to push Treasury yields higher.
That comes after news on Thursday that consumer prices rose moderately in July. The PPI data cast some doubt on whether the Federal Reserve is done with its rate hike cycle.
Source: Digital Coin News (digitalcoinnews.net)
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