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Yen weakens to 155 against dollar: Japan considers intervention amid rising risks
The yen recently fell past 155 per dollar, raising the likelihood of Japanese government intervention. With high U.S. Treasury yields driving yen weakness and economists forecasting potential intervention, Japan’s central bank may consider rate hikes sooner than anticipated.
The yen weakened beyond 155 per dollar for the first time since July, increasing the chance of Japan intervening in the currency market. The yen slid 0.4% to 155.15 against the dollar following Donald Trump’s reelection, pressured by surging U.S. Treasury yields. This drop brings the yen close to levels that previously triggered intervention.
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Japan’s top forex official has warned about abrupt currency moves, with economists forecasting intervention between 150 and 160 per dollar. Persistent yen weakness may push the Bank of Japan (BOJ) to raise rates sooner than expected, with a 50% chance of a December hike, according to traders.
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Last update: Nov 13, 2024