JPY Daily News

Japan's Finance Minister Hints at Possible Currency Manipulation

While the Japanese yen has been predominantly gaining on most of its currency rivals lately, it seems a sharp weakness struck the island currency today following statements from Japan's finance minister. It seems that a comment made to a reporter by Japanese Finance Minister Yoshihiko Noda put a level of unease in yen-trading as many are now speculating a further possibility of government intervention.

Noda's statement seemed to suggest that unnatural strengthening of the yen was looked upon as unfavorable and harmful to the Japanese economy. The message appears to have been interpreted as a comment that future market meddling may be in the works by the Bank of Japan (BOJ). As a result, traders have seen the JPY losing ground against most of its rivals in yesterday's and today's trading.

Current Time: 05/27 02:27 GMT

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