Japanese Yen edges higher on verbal warnings, traders await US ADP labour and PCE data
The USD/JPY pair loses momentum to around 157.00 during the early Asian session on Wednesday.
The USD/JPY pair showed a slight improvement to approximately 157.00 during the early Asian session on Wednesday. Japanese Yen (JPY) gained strength against the US Dollar (USD) due to fears of intervention following verbal warnings from US Treasury Secretary Scott Bessent and Japan's Finance Minister Satsuki Katayama. Both officials emphasized their commitment to strengthening cooperation to address JPY weakness.
Katayama reiterated her belief that an undervalued Yen is problematic and agreed with Bessent to increase cooperation, affirming that officials will maintain close communication with the US Treasury to ensure orderly foreign exchange markets.
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