Yen Rebounds After Weakening to Level of Suspected Intervention
- Japan’s currency remains under pressure against pound, euro
- Rising bond yields unlikely to stem weakness: Mizuho’s Omori
The currency traded at 157.64 per dollar as of 8:20 a.m. in Tokyo on Thursday, beyond the closely watched mark of 157.52, where the yen strengthened dramatically on May 1.
Photographer: Noriko Hayashi/BloombergThis article is for subscribers only.
The yen rebounded after falling through a level that prompted the latest round of suspected action by Japan to prop up the currency.
The yen gained 0.4% to 157 against the dollar as of 5 p.m. in Tokyo after dropping to a four-week low of 157.71 late Wednesday. Its move past the closely watched mark of 157.52 underscored the limited impact of intervention.