Yen Consolidates as Traders Await Besant's Meeting

Deep News05-12 07:50

The yen consolidated against other G10 and Asian currencies in early trading. U.S. Treasury Secretary Besant stated he would meet today in Tokyo with Japanese Prime Minister Sanae Takaichi and Finance Minister Tsuki Katayama. Analysts from Nomura's foreign exchange research team noted in a commentary, "Markets are closely watching the U.S. stance." The Nomura analysts added, "A tolerant U.S. position on intervention and Bank of Japan tightening could help make efforts to strengthen the yen more effective and lasting." Data showed the dollar was largely flat at 157.22 yen, the euro was flat at 185.20 yen, while the Australian dollar rose 0.2% to 113.90 yen.

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