Yen Strengthens Past 157 Per Dollar, Outperforming G-10 Peers
The yen strengthened past the 157 level against the dollar on Wednesday as a series of government warnings on the currency and quarter-end flows provided support.
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The yen strengthened past the 157 level against the dollar on Wednesday as a series of government warnings on the currency and quarter-end flows provided support.
The yen headed for its biggest daily gain in more than two weeks after Finance Minister Satsuki Katayamaโs latest comments on the currency kept traders on alert for the risk of intervention.
The yen dropped after the Bank of Japanโs decision to hike rates as a split vote sent bearish signals, strategists said. The Japanese currency fell as much as 0.5% after the central bank raised its benchmark interest rate by a quarter percentage point to 1.25%.