Japanese authorities warn of potential yen intervention as it weakens to 159.94 per dollar.
The yen weakened to 159.94 per dollar on Monday, near its lowest since April 29, prompting Japanese authorities to warn of potential intervention. The yen's decline towards the 160 level against the dollar has led to increased market caution that additional yen-buying, dollar-selling operations may be implemented. With the Bank of Japan's decision to delay reducing bond-buying stimulus until the July meeting, the yen's weakness persists, and Japan stands ready to take appropriate steps against volatile currency moves at "any time".
June 24, 2024
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