Japan May Have to Conduct Sustained Campaign of FX Intervention -- Market Talk

Dow Jones05-06 14:06

0606 GMT - Japan may have to conduct a sustained campaign of FX intervention if it wants to prop up the yen, which could lead to bigger two-way swings in the dollar against the currency, CBA's Global Economic & Markets Research team says in commentary. The Japanese authorities could have intervened in another yen-buying operation earlier Wednesday afternoon in Asia, after they are widely believed to have intervened last week, the team notes. However, higher-for-longer energy prices combined with U.S.-Japan interest-rate differentials will probably keep upward pressure on the dollar against the yen, the team says. The dollar is 1.0% lower at 156.34 yen after earlier touching 155.02 yen, its lowest intraday level since Feb. 24, LSEG data show.(ronnie.harui@wsj.com)

(END) Dow Jones Newswires

May 06, 2026 02:06 ET (06:06 GMT)

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