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02.07.26 - 17:48
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Yen Surges As Jittery Traders Expect Imminent Intervention After Japan Reveals New Strategy To Wipe Out Shorts (ZeroHedge)
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Yen Surges As Jittery Traders Expect Imminent Intervention After Japan Reveals New Strategy To Wipe Out Shorts
After plunging to a fresh 40 year low overnight, the yen strengthened sharply against the dollar amid rising speculation that the currency's continued weakness may prompt a fresh round of intervention by Japan. The yen then surged again after the June US jobs report showed a much weaker picture than expected.
But let's focus on the first, more unexplained move, which took place just after 2:30am ET, when the Yen rose as much as 1% against the greenback, the most since Japan intervened on April 30. The currency later trimmed the advance, before surging again after the jobs report. Earlier in the week, the yen touched its weakest versus the dollar since 1986.
Traders were already on edge ahead of both the jobs report and the Friday holiday in the US, which creates thin trading conditions that would likely amplify the impact of any yen intervention.
“Liquidity is expected to decline...
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02.07.26 - 14:00
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Yen Rises Amid Intervention Risks (AFX)
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CANBERA (dpa-AFX) - The Japanese yen strengthened against other major currencies in the European session on Thursday, due to rising investor expectations of government intervention.Japanese offici......
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02.07.26 - 12:06
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Yen Rises Against Majors (AFX)
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CANBERA (dpa-AFX) - The Japanese yen strengthened against other major currencies in the European session on Thursday. The yen rose to a 6-day high of 183.77 against the euro, a 2-week high of 160.......
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02.07.26 - 10:48
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Yen′s Sharp Gain Unlikely a Market Movement, Natixis Says (Bloomberg)
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Alicia Garcia Herrero, chief APAC economist at Natixis, says that Japan may already have intervened in currency markets after the yen strengthened sharply against the dollar on Thursday. "Nobody said so, but I would argue that that correction can't happen if everybody's reading your screens thinking that US data will be strong," Garcia Herrero tells Bloomberg Television. The abrupt move came as traders await US jobs figures later Thursday, which have the potential to move the dollar-yen currency pair. (Source: Bloomberg)...
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