The U.S. Treasury has informed a number of banks it may intervene in the yen market on Friday, a source familiar with the matter told Reuters. The notice follows a Japanese intervention a day earlier that pulled the yen off four-decade lows against the dollar and set it up for its biggest weekly rise since February.
The U.S. Treasury has informed a number of banks it may intervene in the yen market on Friday, a source familiar with the matter told Reuters. The notice traveled through the Federal Reserve Bank of New York, which told the banks to prepare for possible further action.
A day earlier, Japanese authorities intervened to support the yen, pulling the currency off four-decade lows against the dollar. That move set the yen up for its biggest weekly rise since February.
Source: Reuters
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