Talk of BOJ Intervention Having an Impact, Says Marinov
The yen advanced after the currency’s biggest two-day slide in three months attracted buyers even as wariness remains that the Japanese government will probably intervene to weaken it. Japan’s currency climbed against all of its 16 major peers Wednesday, resuming gains that had pushed it to an 18-month high against the dollar last week. Finance Minister Taro Aso reiterated Tuesday that the government canintervene 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. Credit Agricole Head of G10 FX Research Valentin Marinov discusses with Bloomberg's Francine Lacqua on "The Pulse."