Yen Mixed but May be Supported by Fears of Possible Forex Intervention -- Market Talk

Dow Jones03-26

0247 GMT - The Japanese yen is mixed against other G-10 and Asian currencies in the morning session, but it may be supported by fears of possible foreign-exchange intervention. Japan's top currency official Masato Kanda on Monday delivered a strong warning against yen shorts, Chang Wei Liang, foreign-exchange and credit strategist at DBS Group Research, says in a commentary. Kanda said that he is clearly seeing speculative moves in forex markets that aren't reflecting fundamentals, and that the government is prepared to act, the strategist notes. This is in line with DBS's prior analysis indicating a substantial risk of intervention if USD/JPY rises above 152.00, the strategist adds. USD/JPY edges 0.1% lower to 151.33; AUD/JPY is up 0.1% at 99.14; EUR/JPY is little changed at 164.09. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

March 25, 2024 22:47 ET (02:47 GMT)

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Japan's top currency ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SG9999002604.SGD","symbol_name":"LionGlobal Singapore/Malaysia SGD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2422681461","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2422681461","pubTimestamp":1711421220,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0247 GMT - The Japanese yen is mixed against other G-10 and Asian currencies in the morning session, but it may be supported by fears of possible foreign-exchange intervention. 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Japan's top currency official Masato Kanda on Monday delivered a strong warning against yen shorts, Chang Wei Liang, foreign-exchange and credit strategist at DBS Group Research, says in a commentary. Kanda said that he is clearly seeing speculative moves in forex markets that aren't reflecting fundamentals, and that the government is prepared to act, the strategist notes. This is in line with DBS's prior analysis indicating a substantial risk of intervention if USD/JPY rises above 152.00, the strategist adds. USD/JPY edges 0.1% lower to 151.33; AUD/JPY is up 0.1% at 99.14; EUR/JPY is little changed at 164.09. 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