Yen Slides Toward Intervention Zone on Wide Japan-US Yield Gap
- BOJ policy keeps Japanese rates far lower than those in US
- Traders are watching for any comments from Tokyo officials
Benchmark 10-year Japanese government bond yields sit below 0.6%, versus more than 4% for similar maturity Treasuries.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
The yen touched its weakest in nine months as Japan’s interest-rate gap with the US pushes the currency toward levels that last year saw intervention by authorities in Tokyo.
After depreciating for five straight days last week, the yen broke through 145.07 versus the dollar Monday to a zone previously seen in November last year. The dollar-yen pair was down 0.1% at 3:51 p.m. in Tokyo after advancing as high as 145.22 earlier.