Soaring Dollar Puts Yen Traders on High Alert
·1 min
The value of the yen is at its lowest point in almost 34 years against the U.S. dollar, raising concerns about the possibility of Japan intervening to support its currency. The weakening yen is a result of speculation that the Federal Reserve will postpone interest rate cuts, leading to a stronger dollar. This has overshadowed the recent decision by the Bank of Japan to end its negative rate policy, which was expected to strengthen the yen. Traders are closely monitoring the situation for any signs of intervention.