Yen weakens to one-year low amid intervention nerves, dollar advances
© Reuters. FILE PHOTO: Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. REUTERS/Florence Lo/Illustration/File Photo
SINGAPORE - The dollar was buoyant on Thursday, hovering near a two-week high as Treasury yields rose and investor appetite for riskier currencies dimmed, while the yen breached 150 per dollar to keep traders jittery about the prospect of intervention. The Japanese yen weakened to hit a fresh one-year low of 150.48 per dollar and was not far off the 32-year low of 151.94 per dollar it touched in October last year that led to Japanese authorities intervening in the currency market.
Japanese Finance Minister Shunichi Suzuki warned traders against selling the yen again on Thursday, saying authorities were closely watching moves."I'm watching market moves with a sense of urgency, as before," he told reporters at his ministry."Given the cap on Japanese yields, something had to give in the context of enduring dollar strength on the back of U.S.
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