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Japan Yen Trades Near 40-Year Low Against Dollar
Finance Minister Satsuki Katayama repeated standard warnings that authorities will act as needed. An Oxford Economics analyst said the approach to intervention may be shifting.
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Japan’s currency traded near its weakest levels in 40 years against the dollar on July 6. ” Officials have used the same language and tone in recent statements. Japan Times reported that they are saying less than before to defend the yen and opting for vague phrasing when they speak.
Norihiro Yamaguchi, an economist at Oxford Economics, said the pattern suggests a possible change. “It seems to me that the government may be changing its approach to FX intervention,” Yamaguchi stated. The reduced volume of comments has added uncertainty for traders, Japan Times reported.
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