Alongside remarks by Federal Reserve Board Chair Warsh suggesting he is open to a rate hike, dollar-yen approached the ¥160 range in its first trading session since coordinated intervention. Views have been reported that fears of further yen selling are spreading in the market.
Amid reports that Federal Reserve Board Chair Warsh hinted at a rate hike, dollar-yen is said to have approached the ¥160 range in its first trading session since coordinated intervention. Although the article does not provide a specific date or details of the meeting, it identifies references to the intervention’s effects and the exchange-rate reaction as key points.
Following this move, market participants are reported to be wary of additional selling pressure on the yen, and the possibility of continued yen depreciation has been noted. The article contains no confirmed information on coherent measures going forward or their implementation timing.