Yen strengthens vs dollar, traders say move may be too small
USDJPY trades at 158.93 after falling to 158.24 earlier. Corpay’s Karl Schamotta says the yen’s move is likely “traders jumping at shadows,” not intervention.
The Japanese yen's sudden strengthening against the dollar this morning isn't big enough to indicate an intervention, Corpay's Karl Schamotta says in an email.
He attributes the move, instead, to " traders jumping at shadows." The USDJPY trades at 158.93, after having fallen as low as 158.24 in mor…