Trump Concerns over Weak Yen Raise Possibility of More Joint Interventions
Dow Jones
Sep 25
0833 GMT - Japanese Finance Minister Satsuki Katayama's remarks Friday about President Trump expressing concerns over the yen's weakness raises the prospect of further joint U.S.-Japanese currency interventions, MUFG Bank's Derek Halpenny says in a note. The comments underline Japan's ongoing efforts to portray that it remains willing to stem the yen's weakness as a continued joint strategy, he says. "It's unusual for the U.S. to act jointly with Japan beyond one occasion so acting jointly again would be a strong message to the markets." That is possible given the Bank of Japan raised interest rates last week and indicated there was more to come, he says. The dollar falls 0.5% to 158.07 yen after Katayama's comments.
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