By Rae Wee SINGAPORE (Reuters) - The yen sat on the stronger side of 150 per dollar on Wednesday, after an unexpected surge in the previous session ...
NS fans turn up for Crosby's homecoming | SaltWireSINGAPORE - The yen sat on the stronger side of 150 per dollar on Wednesday, after an unexpected surge in the previous session stoked speculation that Japanese authorities could have intervened to support the currency.
"Authorities may be unable turn the trend in FX markets immediately. Yet entering the market in size provides a strong signal and helps buy time for other things to fall into place that in the fullness of time then contribute to position unwinds."Other currencies similarly fell against the yen in the previous session, with the euro losing more than 1.5% to a low of 154.39 yen. It recovered some of those losses and last bought 156.05 yen.
That sent the greenback to a near 11-month high of 107.34 against a basket of currencies, with the dollar index last at 107.07. "Markets have been rattled by yet another positive U.S. data surprise vindicating the mantra of higher for longer," said Rodrigo Catril, senior FX strategist at National Australia Bank.
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