Forex
US Banks Said To Be Asked By NY Fed To Check EUR/JPY Rate - Bloomberg
US Treasury Has Informed Banks That It May Intervene In Yen Market On Friday - Source Familiar With The Matter - Reuters
The Japanese government and the Bank of Japan intervened in the foreign exchange market by buying yen and selling dollars, according to a Nikkei report.
The yen surged against the dollar in the New York foreign exchange market, briefly reaching 157.80 yen to the dollar following the intervention.
U.S. monetary authorities also conducted a "rate check," a preliminary step before intervention, suggesting coordination between Japanese... (continue reading...)
By Leika Kihara
TOKYO, July 31 (Reuters) - Japan conducted yen-buying, dollar-selling intervention in New York on Thursday, a market source said, its first such foray in three months, as the currency's slump to four-decade lows threatened to worsen living costs hit by the Iran war-driven energy shock.
The move came ahead of the Bank of Japan's policy decision on Friday, where the central bank is widely expected to keep interest rates... (continue reading...)
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