JCB Comments Stabilize Yen
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The exchange rate between the USD and the Yen stabilized overnight after the Bank of Japan Governor Masaaki Shirakawa's comments stoked fears of intervention.
We've been monitoring "the recent appreciation of the yen," Shirakawa said at a forum in Tokyo on Monday. "The bank carefully monitors the development of the foreign-exchange rate from the viewpoint of how it affects the economy through its impact on business sentiment."
The statement stoked fears of bank intervention, and provided some stability to USD/JPY, which has been under pressure. CurrencyShares Japanese Yen Trust (NYSE: FXY) is up 1.84 percent in the past 5 trading sessions. The spot rate of USD/JPY is 78.12.
We've been monitoring "the recent appreciation of the yen," Shirakawa said at a forum in Tokyo on Monday. "The bank carefully monitors the development of the foreign-exchange rate from the viewpoint of how it affects the economy through its impact on business sentiment."
The statement stoked fears of bank intervention, and provided some stability to USD/JPY, which has been under pressure. CurrencyShares Japanese Yen Trust (NYSE: FXY) is up 1.84 percent in the past 5 trading sessions. The spot rate of USD/JPY is 78.12.
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