Dollar Weakens Against Yen on Fears of Japan-U.S. Intervention to Buy Yen
Digital FinanceMacro
The U.S. dollar weakened to the upper 159 yen range in Tokyo morning trading, amid concerns that Japanese and U.S. authorities may jointly intervene in the market by buying yen again, after the dollar surged past the 160 yen level in New York trading late last week, marking the first time since a joint intervention in July. Kyodo News reported that as of noon Tokyo time, the U.S. dollar was trading at 159.77-159.78 yen, compared with 159.92-160.02 yen in New York and 159.50-159.51 yen in Tokyo at 5:00 p.m. on Friday. The euro was trading at 1.1592-1.1592 dollars and 185.21-185.23 yen, compared with 1.11577-1.1587 dollars and 185.36-185.46 yen in New York, and 1.1646-1.1647 dollars and 185.76-185.80 yen in Tokyo on Friday evening.
