Skeptical Traders Cast Doubt on Japanese Intervention Threats, Yen Sellers Dominate
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Yen sellers remain in control as traders become skeptical that Japan officials follow through on intervention threats. The yen has steadily weakened this quarter on US economic resilience and as the BOJ vowed to keep rates low for now along with a weak signal for a chance of future hike.
The dollar index could be flashing an oversold signal and that could lead to further bets against the yen and not necessarily with European currencies that might see much more tightening.