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Carbon tax protest at Nova Scotia-New Brunswick border | SaltWire #newbrunswick #novascotia #rallySINGAPORE - The dollar was on the front foot on Wednesday, pinning the yen near its lowest its decades though the heightened threat of currency intervention by Tokyo capped further declines in the Japanese currency.
Japanese officials have carried on with their jawboning efforts for days now in a bid to defend the currency, with the overhanging threat of an intervention serving as stiff resistance for the greenback at the 152 yen level, which some market participants see as a line in the sand. Elsewhere, the euro fell 0.03% to $1.0767, though it was some distance away from an over one-month low hit in the previous session, after the U.S. dollar ran into some profit-taking late overnight.The dollar, which on Tuesday touched a nearly five-month high of 105.10 against a basket of currencies, was last steady at 104.78.
"I think the dollar will hold up pretty well in the near term, and that will be a headwind for the other major currencies."
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