Yen consolidates; intervention risk still seen by market talk
In early trade, the yen consolidates versus other Asian and G-10 currencies. Market talk links support to lingering risks of FX intervention after a sharp overnight rally and speculation of a possible authorities “rate check.”
The yen consolidates against other Asian and G-10 currencies in early trade, but may be supported by lingering risks of FX intervention.
The sharp yen rally overnight sparked speculation that the authorities conducted a "rate check" on the exchange rate, a precursor of intervention, CBA's Carol Kon…