Currencies
Yen Near 150 to Dollar Raises Odds of Jawboning From Japan
- Japan’s finance minister is closely watching the fx market
- Asset managers have started wagering against yen: CFTC data
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The yen has performed worse than any of its major peers so far this year, renewing speculation that Japanese authorities will be drawn in to defend the currency.
While there’s no indication of imminent intervention by the government, the yen has weakened about 4.8% versus the greenback this year and is just two yen short of 150 to the dollar. That level was last seen in November, when officials in Tokyo cautioned that they could take action to arrest its slump.