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Recent pace of yen fall makes intervention less likely - former top currency diplomat

Recent pace of yen fall has been grindyThat makes imminent intervention by Tokyo less likelyAuthorities will not intervene to target a certain yen levelWhen yen moves are gradual, as is the case now, intervention won't have much effect in turning the tide aroundEven so, those shorting the yen at these levels will continue to be extremely wary of overstepping the 150.00 mark at least for now. It's a key psychological barrier in itself, not least when that was where Tokyo stepped in during October... Read More

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Posted: Oct 3 2023, 10:04

Author Name: forexlive

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