Stealth Intervention Talk Permeates Market as Yen Approaches 150
- Dollar-yen saw another unexplained spike in trading Tuesday
- Japanese currency weakening toward key psychological 150 level
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The yen carried on its seemingly inevitable decline toward 150 per dollar, as traders scoured intraday moves for evidence of subtle intervention from Japan.
Twice in under a week investors have seen sudden bursts of yen strength as it edged to fresh lows, spurring speculation that officials were subtly intervening to support the currency. The yen traded around the 149.30 level Wednesday, after weakening to 149.38 on Tuesday in a volatile session which included such a spike.