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Yen gains after hitting 38-year low, traders on intervention watch
The yen edged back slightly Thursday after hitting a 38-year low against the dollar, putting investors on alert for a possible intervention by Japanese authorities, while investors awaited US inflation data that could spark another round of volatility. Billions were pumped in to support the yen after it hit a 34-year low of 160.17 in late April, but with limited effect.
The yen edged back slightly Thursday after hitting a 38-year low against the dollar, putting investors on alert for a possible intervention by Japanese authorities, while investors awaited US inflation data that could spark another round of volatility. Billions were pumped in to support the yen after it hit a 34-year low of 160.17 in late April, but with limited effect.
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