The Minister of Finance, Shunichi Suzukidid not rule out a exchange intervention while the local currency, the and infell this Wednesday to its lowest level since 1990.
He dollar It briefly rose to 151.97 yen in the Asian session, its highest level against the yen since the mid-1990s, but subsequently fell 0.12% to 151.42 yen.
The Japanese authorities intervened to defend the yen at 151.94 in 2022, and Minister Suzuki this day used the same words that preceded that intervention, warning that Japan would take “bold measures” against excessive movements in the currency.
He and in has plunged more than 7% this year, driven by the yawning gap between U.S. and Japanese bond yields, which the small rise in U.S. interest rates Bank of Japan Last week it barely changed.
Meanwhile, the dollar is on track for a quarterly profit after investors lowered their expectations for big interest rate cuts amid strong economic data and central bank reluctance. He dollar index It was stable at 104.27, with a rise of 3% so far this year.
This week, the market’s attention will focus on the Underlying inflation of USA to be released on Good Friday, although a larger-than-expected rise in durable goods orders on Wednesday buoyed the stock somewhat. dollarfurther weighing down the yen.
Guy Miller, chief market strategist at Zurich Insurance group, said currencies were suffering under the weight of a strong US currency, including the Chinese yuanwhich ended the domestic session at its weakest close since November 2023 at 7.2284 units per dollar.
He euro It barely reacted to the Spanish inflation data for March, slightly below expectations, and was trading stable at $1.0835. The pound It was trading unchanged at $1.2633.
Source: Ambito
