The Japanese yen at one point reached the lower 155 level against the dollar on Wednesday, Japan time. Traders say this indicates that Japanese authorities have once again intervened in the foreign exchange market.<\/p>\n
The yen was trading in the upper 157 level on Wednesday morning. But buying picked up at around 1:30 p.m., briefly sending the currency into the lower 155 region. This amounted to an increase of about 2.7 yen in roughly 30 minutes.<\/p>\n
Sharp fluctuations were more likely on Wednesday as fewer people trade during national holidays.<\/p>\n
But market players speculate the Japanese government and the Bank of Japan have once again stepped into the market, following intervention on April 30.<\/p>\n
The yen also temporarily surged on Monday.<\/p>\n
Market sources say traders are currently more likely to buy the dollar as a safe haven due to the unclear circumstances surrounding Iran.<\/p>\n
They also say every time the yen has fallen during Japan’s ongoing spring holiday, the currency has rebounded. They say this is a sign of possible market intervention.<\/p>\n
The sources add traders are on the alert for additional moves as Japanese Finance Ministry officials have suggested a readiness to step in.<\/p>\n","protected":false},"excerpt":{"rendered":"The Japanese yen at one point reached the lower 155 level against the dollar on Wednesday, Japan time.…\n","protected":false},"author":2,"featured_media":17901,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[72,259,8,262,173,261,265,266,267,264,33,258,263,268,260,257],"class_list":{"0":"post-17900","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-japan","8":"tag-asia","9":"tag-biz","10":"tag-japan","11":"tag-japan-broadcasting-corporation","12":"tag-news","13":"tag-nhk","14":"tag-nhk-world","15":"tag-nhk-world-premium","16":"tag-nhk-world-tv","17":"tag-nhkworld","18":"tag-nihon","19":"tag-nuclear","20":"tag-public-broadcaster","21":"tag-radio-japan","22":"tag-tech","23":"tag-world"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/posts\/17900","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/comments?post=17900"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/posts\/17900\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/media\/17901"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/media?parent=17900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/categories?post=17900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/tags?post=17900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}