Japan yen rallies, forex intervention speculated

By Agence France-Presse

Jul 13, 2024 12:12 am

TOKYO — A surge in the yen triggered speculation among analysts on Friday that Japanese authorities may have again intervened in forex (foreign exchange) markets to prop up the ailing currency.

In New York, the dollar shed more than 2 percent against the Japanese unit, which has been on a downwards slide for months and in late June hit its weakest value since 1986.

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