Japanese Yen may strengthen, possibly due to Tokyo's intervention

Japanese Yen may strengthen, possibly due to Tokyo’s intervention

April 29, 2024 Tóth Balázs

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European traders are waking up to a jittery currency market after the yen reversed sharply from 160 per dollar on Monday, with some speculating that Tokyo could be behind the move while the country is on holiday.

The yen’s surge – which lifted the yen to 156.55/ dollar – came just hours after it slipped to the weaker side of 160/ dollar for the first time since 1990, a 34-year low.

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Japanese Yen may strengthen, possibly due to Tokyo’s intervention

European traders are waking up to a jittery currency market after the yen reversed sharply from 160 per dollar on Monday, with some speculating that Tokyo could be behind the move while the country is on holiday.

The yen’s surge – which lifted the yen to 156.55/ dollar – came just hours after it slipped to the weaker side of 160/ dollar for the first time since 1990, a 34-year low.

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