Markets on guard for any intervention by authorities to contain nearly 11pc slide this slide
SINGAPORE – The Japanese yen hit its weakest levels since April 1990 on Monday, in trading thinned by a holiday in Japan and attempts by traders to test key levels and stop-loss orders in a nervous, illiquid market.
The yen's move barely affected the euro and sterling, both of which stayed near the bottom of the ranges hit during Friday's volatile session. The yen had moved nearly 3.5 yen between 158.445 and 154.97 on Friday as traders vented their disappointment after the Bank of Japan kept policy settings unchanged and offered few clues on reducing its Japanese government bond purchases - a move that might have put a floor under the yen.
"The bar is pretty high for a sustained hawkish surprise, which would in turn lift yields," he said, referring to the Fed.
Dollar US Inflation Interest Rates Bank Of Japan Currency Rates Rate Cut Federal Reserve Federal Open Market Committee US Rate Cuts Inflation
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