The Japanese yen surged against the US dollar in early Asian trading on Monday, prompting fresh speculation that authorities in Japan may have intervened to support the currency.
The dollar fell around 0.5% to 156.22 yen, after dropping nearly 0.9% earlier in volatile trading. Market activity was relatively thin due to a public holiday in Japan, News.Az reports, citing Reuters.
Investors are closely watching for signs of further action from Japanese authorities after data last week suggested Tokyo may have spent up to 5.48 trillion yen (around $35 billion) to stabilize the currency.
Market analysts said the latest movement could signal continued efforts to prevent excessive weakening of the yen. “It could be them again,” said Nick Twidale, chief market strategist at ATFX Global, referring to possible intervention.
Last week marked Japan’s first official currency intervention in nearly two years, according to sources familiar with the matter, as policymakers seek to curb volatility and support the national currency.
The sudden strengthening of the yen has heightened market sensitivity, with traders remaining alert to any further moves by authorities to influence exchange rates.
此内容由惯性聚合(RSS阅读器)自动聚合整理，仅供阅读参考。 原文来自 — 版权归原作者所有。