Yen Risks Slide to 160 per Dollar as Record Intervention Fails to Lift May Performance
Updated
Updated · Bloomberg · Jun 1
Yen Risks Slide to 160 per Dollar as Record Intervention Fails to Lift May Performance
1 articles · Updated · Bloomberg · Jun 1
Japan’s yen was the worst-performing G10 currency in May despite record official spending to support it, underscoring how little the intervention campaign has changed market direction.
A roughly two-week gap before the Bank of Japan’s expected June 16 rate hike leaves the currency exposed, with traders now facing heightened risk of another round of intervention.
That window raises the chance the yen weakens to 160 against the dollar before any policy support arrives from higher Japanese interest rates.
Can the Bank of Japan rescue the Yen without sacrificing the nation's fragile economic recovery?
Is Japan's weak Yen a crisis or a hidden opportunity for its export-driven economy?