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The dollar was headed for its biggest weekly loss against the yen since February.
Japan reportedly intervened to support the yen after it hit 160.7 per dollar Thursday.
KEY POINTS
- Authorities may have spent up to 5.48 trillion yen ($35 billion) during this intervention.
- Barclays analysts warned intervention could occur during the upcoming Golden Week holiday if USDJPY rebounds.
- ECB and BOJ signaled possible interest rate hikes as soon as June to address inflation.
- Market expectations for US Fed rate cuts have diminished, discouraging sustained yen appreciation.
COMPANIES
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