BoJ conducts FX rate check amid falling yen
Analysts question whether FX intervention is feasible without monetary policy shift
The Bank of Japan performed a foreign exchange “check” today (September 14), seen as a precursor to currency intervention.
The so-called rate check is a practice in which central bank officials call up dealers and ask for the price of buying or selling yen. Japanese media including Nikkei Asia and Kyodo News reported the check, citing unnamed sources.
Worse-than-expected US inflation data released on September 13 raised the prospect of more aggressive US rate hikes to tame prices, pushing the
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