Japan's yen had a roller coaster week amid suspected intervention. Here's what you need to know
Publishing timestamp: 2024-05-03 07:23:52
Summary
The Japanese yen weakened to levels not seen in 34 years against the U.S. dollar, prompting speculation of intervention by Japanese authorities. The currency rebounded later in the week, likely due to intervention. Analysts suspect the size of the intervention to be between 5 trillion and 6 trillion yen. The weakening yen has been beneficial for Japan's economy, particularly for exporters and the service sector. Market participants believe that Japanese authorities will continue to intervene to support the currency.
Sentiment: MIXED
Tickers: JPY=,
Keywords: forex markets, south asia, business news, world markets, central banking, asia news, east asia, hong kong, asia economy, debt and bond markets, india, currency markets, usd/jpy, china, stock markets,
Source: https://www.cnbc.com/2024/05/03/japans-yen-had-a-rollercoaster-week-here-is-what-happened.html