Sharp yen rises spark speculation over government intervention
Japanese minister refuses to comment on whether authorities acted to stem currency’s fall
The yen strengthened sharply against the dollar after falling to a 34-year low on April 29, prompting speculation that Japanese authorities had intervened in the foreign exchange market. If so, this would be the first time they have done so since October 2022.
The yen reached 155 to the dollar in the afternoon local time, after hitting 160 in the morning, the lowest level since 1990. The yen was trading around 156.7 to the dollar at 3pm Japan time today (April 30), having lost more than 10% of
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Reserves
Trends in reserve management 2024: survey results
Insights on geopolitical risk, AI, asset diversification, risk management and ESG adoption
South Korea and Malaysia renew currency swap line
Bank of Korea and Bank Negara Malaysia resume arrangement that lapsed in 2023
EU agrees to use Russian asset profits to support Ukraine
“This is not our decision, but a political one,” says Euroclear chief executive
Ukraine’s central bank lifts more currency restrictions
Moves will enable more investment and strengthen economic recovery, NBU says
Asean+3 to launch new financing facility
Thirteen Asian states say fund will deal with exogenous shocks’ effects on balance of payments
UK banks earn over £9bn interest on reserves with BoE
Higher interest rates present banks with bumper earnings
Bosnian central bank joins World Bank reserves programme
Eurozone-adjacent economy looks for closer ties to the west
Reserve managers brace for war
Geopolitical escalation could trigger inflationary and energy shocks, RMT survey finds