Japanese Yen Likely to Stay Weak Despite Currency Interventions -- Market Talk

Dow Jones05-29 21:21

1321 GMT - The Japanese yen could remain weak in the near term despite recent interventions to bolster the currency, ING's Chris Turner says in a note. The Ministry of Finance said Friday that Japan spent 11.7349 trillion yen, or $73.69 billion, on interventions between April 28 and May 27. However, the yen only briefly recovered before turning weaker again. Unless the Bank of Japan can drive real interest rates adjusted for inflation higher, the yen will struggle to recover, Turner says. "Until then, we expect [dollar versus the yen] to stay bid near 160 yen over coming months and possibly push into the 162-163 area." The dollar trades steady at 159.27 yen. (renae.dyer@wsj.com)

(END) Dow Jones Newswires

May 29, 2026 09:21 ET (13:21 GMT)

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Unless the Bank of Japan can drive real interest rates adjusted for inflation higher, the yen will struggle to recover, Turner says. \"Until then, we expect [dollar versus the yen] to stay bid near 160 yen over coming months and possibly push into the 162-163 area.\" The dollar trades steady at 159.27 yen. 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The Ministry of Finance said Friday that Japan spent 11.7349 trillion yen, or $73.69 billion, on interventions between April 28 and May 27. However, the yen only briefly recovered before turning weaker again. Unless the Bank of Japan can drive real interest rates adjusted for inflation higher, the yen will struggle to recover, Turner says. \"Until then, we expect [dollar versus the yen] to stay bid near 160 yen over coming months and possibly push into the 162-163 area.\" The dollar trades steady at 159.27 yen. 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Unless the Bank of Japan can drive real interest rates adjusted for inflation higher, the yen will struggle to recover, Turner says. \"Until then, we expect [dollar versus the yen] to stay bid near 160 yen over coming months and possibly push into the 162-163 area.\" The dollar trades steady at 159.27 yen. 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