The yen briefly fell to the ¥159 range in the New York market on the 10th, setting a new low since the unprecedented coordinated intervention launched by Japan and the United States in late July. The possibility of another intervention will be the focus from here.
The yen briefly fell to the ¥159 range in the New York market on the 10th. It set a new low since the unprecedented coordinated intervention conducted by Japanese and US authorities from late July.
The yen gave back more than half of its intervention-driven gains, prompting some to view the ongoing yen depreciation as temporary. This article reviews current levels and the moves immediately preceding them.
Trading tends to thin out during this period, which can lead to larger price swings. Depending on future market developments, another yen-buying intervention could be considered.