Yen Gains as Biggest Two-Day Loss Since January Attracts Buyers
- Japanese currency move is `temporarily stalled,' Mizuho says
- Yen will resume weakness as BOJ eases policy: Credit Agricole
Talk of BOJ Intervention Having an Impact, Says Marinov
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The yen advanced after the currency’s biggest two-day slide in three months attracted buyers even as wariness remains that the Japanese government may intervene to weaken it.
Japan’s currency climbed against most of its 16 major peers Wednesday, resuming gains that pushed it to an 18-month high against the dollar last week. Finance Minister Taro Aso reiterated Tuesday that the government can intervene to stabilize foreign-exchange markets if necessary. Koichi Hamada, an economic adviser to Prime Minister Shinzo Abe, said rapid gains in the yen to 100 per dollar could trigger intervention.