Japan: Yen falls again below critical mark
The Japanese currency is losing value against the dollar again, falling below the 160 yen per dollar mark. This makes a rate hike more likely.
The Japanese yen has fallen below 160 per dollar, extending its decline, which has erased more than half of its gains fueled by US and Japanese interventions. The yen dropped up to 0.4 percent to 160.01 against the dollar, after Fed chief Kevin Warsh's promise to reach the central bank's inflation target boosted the dollar. Market participants are closely watching the yen's levels for signs of potential intervention by authorities to protect the currency.
The yen has been under pressure since it failed to break through 155 per dollar earlier this month, following a joint intervention by the US and Japan on July 31, their first coordinated yen-buying intervention since 1998.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
