Currencies
Japan Opts to Keep Traders in Dark on Whether It Intervened
- Sharp strengthening of yen prompts chatter of intervention
- Move comes after yen hit 160 against dollar earlier Monday
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Japan’s top currency official opted to keep market players in the dark over whether Tokyo had intervened in the currency market Monday following a sharp move in the market that sliced 2% off the dollar-yen exchange rate.
“I have nothing to say about whether or not Japan had intervened in the market,” said Masato Kanda, vice minister for international affairs, when asked by reporters if authorities had stepped into markets to prop up the yen.