After the Japanese currency breaks ¥160, a bank starts to wonder whether all the intervention gains could soon be lost.
The yen might make its way back to 39-year lows against the dollar if nothing is done to stop it from weakening, a Tokyo bank warned after the currency crossed a key threshold. It traded above ¥160 to the dollar in U.S. trading for the first time in almost a month and was back above that level again on Monday, adding to the general sense in the market that a massive, late-July intervention failed to provide lasting support for Japan’s currency.
Extract — continue reading at the source.
Related stories
Burnham says water central to U.K. plan for public control
U.S. urges hands-off approach to AI regulation at G20 tech meeting
Moment US strikes on Iranian port city hit wedding party
White House plans its first press briefing in weeks but it’s anyone’s guess who will be behind the podium
Germany blames Russia for airport drone incident, hits back with sanctions
U.N. faces contentious Iran nuclear vote ahead of General Assembly