Forex
(Reuters) - The dollar tumbled against the yen late Wednesday afternoon, recoiling further from 34-year highs two days after traders said Japanese authorities were buying yen to support their currency, which had fallen 11% this year.
Dollar/yen suddenly fell more than 3% from late Tuesday levels, trading as low as 153.00. That was below the 154.40 low seen in Monday's recoil from 160.245. It was last at 154.845 down 1.85% from Tuesday.
... (continue reading...)By Samuel Indyk and Kevin Buckland
LONDON (Reuters) -The yen dropped against the dollar on Thursday, reversing direction after a sudden surge late on Wednesday that traders and analysts were quick to attribute to intervention by Japanese authorities.
The yen was 0.5% lower at 155.30 per dollar as of 0746 GMT, retracing about half of its late Wednesday surge from around 157.55 to exactly 153 over a period of about 30 minutes.
The... (continue reading...)
Investing.com-- The Japanese yen weakened sharply on Thursday, seeing limited resilience amid what appeared to be repeated intervention in currency markets by the government, as the specter of high U.S. interest rates persisted.
The USDJPY pair- which gauges the amount of yen needed to buy one dollar- rose 1% to 156 in late-morning trade, after sliding as low as 153 on Wednesday.
While a sharp drop in the dollar also factored into some of the yen’s recent... (continue reading...)
Investing.com-- Most Asian currencies kept to a tight range on Thursday, taking little advantage of a drop in the dollar as the Federal Reserve said interest rates were unlikely to fall in the near-term, although they were also unlikely to rise.
This kept a rebound in the Japanese yen short-lived, with the currency weakening sharply after seeing strong gains on Wednesday. Traders said the yen’s rebound this week appeared to be driven by government intervention in... (continue reading...)
By Takaya Yamaguchi, Tetsushi Kajimoto and Gertrude Chavez-Dreyfuss
TOKYO/NEW YORK (Reuters) -The yen surged against the dollar in early Asian hours on Thursday on what traders suspected was another round of intervention by Japanese authorities to stop a sharp slide in the currency, with the 160 level seen as a key line of defence.
The dollar fell sharply to precisely 153 yen from about 157.55 yen for reasons that were not immediately clear,... (continue reading...)
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