Forex
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...)
Yen Surges 1% in Seconds With Traders Edgy on Intervention Risk - Bloomberg
USD/JPY could creep back to the 158.50/159.00 if the Fed hawkish today, said analysts at ING.
"Reports emerged yesterday that the Bank of Japan's intervention on Monday could have been towards the high side of expectations at JPY5.5tn or around $34bn. This is based on calculations from the BoJ's current account balances and the net drain of yen funds as FX operations were settled. As Francesco Pesole discussed yesterday, this will be part of a new campaign for Japanese... (continue reading...)
Investing.com - Aggressive movements in the Japanese yen this week, largely versus the U.S. dollar, have prompted talk of official intervention. While this could be seen as a sign of extreme dollar strength, UBS pointed to yen weakness, saying the dollar offers more upside on a broader scale.
“The past week has been a consequential one for USDJPY,” said analysts at UBS, in a note dated May 1, as the Bank of Japan stuck to a dovish tone at its meeting, resulting in... (continue reading...)
Investing.com - The U.S. dollar edged higher Wednesday, climbing towards its highest level in November ahead of the conclusion of the latest Federal Reserve policy-setting meeting.
At 04:00 ET (09:00 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% higher at 106.240, after earlier climbing as high as 106.380, near the 106.51 mark that would be the highest since Nov. 1.
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