| Forex News Center | | | Forex Afternoon Archive |
Thursday, 9 Sep 2010
Yen Hovering Near 15-Year High
The yen hovered near a 15-year high against the dollar on Thursday as conflicting messages from policymakers prompted traders to bet Japanese authorities were not yet ready to intervene.
Japanese Finance Minister Yoshihiko Noda said on Thursday that the ministry was conducting simulations on forex intervention, but the yen hardly budged as the market still thinks Japan is unlikely to intervene until the dollar falls near 80 yen.
Noda's comments were also somewhat undermined after Bank of Japan Governor Masaaki Shirakawa said he did not discuss currencies and monetary policy at a government meeting.
