Japanese authorities are facing renewed pressure to combat a sustained depreciation in the yen, as investors eye prospects of higher-for-longer U.S. interest rates while the Bank of Japan remains wedded to its super low interest rate policy.
to stem what it considers excessive yen falls. Among them is to intervene directly in the currency market, buying large amounts of yen, usually selling dollars for the Japanese currency.
Rate checking by the BOJ, when central bank officials call dealers and ask for buying or selling rates for the yen, is seen by traders as a possible precursor to intervention.has recently said authorities "won't rule out any options" to deal with excessive currency volatility, and that they were watching currency moves with a "strong sense of urgency.
If the yen's slide accelerates and draws the ire of media and public, the chance of intervention would rise again.
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