Japan Steps Up Yen Support, Dollar Gains

Japanese officials are intensifying efforts to bolster the yen, which has been weakening against the dollar. Finance Minister Satsuki Katayamas hints at potential intervention have sparked anticipation among currency traders. Despite recent warnings and a short-term boost, the yen remains near its ten-month low and is poised for a weekly loss. The yens decline since Takaichis election and the approval of a substantial economic stimulus package have contributed to its weakness. Experts predict any interventions will be brief, offering little resistance to the yens downward trend. Meanwhile, the dollar is on track for its largest weekly gain in six weeks, as investors weigh the possibility of another interest rate cut by the Federal Reserve.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.