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Japan warns of 'decisive action' to defend yen as FX reserves tumble
Japan warns of 'decisive action' to defend yen as FX reserves tumble TOKYO, June 5 : Japan is ready to respond at any time on foreign exchange and reserves the right to take "decisive action" against excessive volatility, Finance Minister Satsuki Katayama said on Friday as the yen teetered near the key 160-per-dollar threshold. The remarks came as investors scrutinised official signals for any hint that Japan could be preparing another strike to rescue the faltering yen. Data released on...
Yen hits key 160 level for third session, dollar buoyed by Gulf woes
Yen hits key 160 level for third session, dollar buoyed by Gulf woes HONG KONG, June 5 : The Japanese yen is testing the 160 barrier on Friday, prompting pushback from Japanese officials, while the U.S. dollar is on track for a weekly gain as Gulf tensions fuel safe-haven flows. The yen weakened to the critical 160-per-dollar mark briefly in early trades, hitting the level for the third straight session despite verbal warnings from authorities. The 160 level is widely seen in markets as a...
Japan renews warning of 'decisive action' versus weak yen
Japan renews warning of 'decisive action' versus weak yen TOKYO, June 5 : Japan is ready to respond appropriately at any time on foreign exchange and reserves the right to take "decisive action" against excessive volatility, Finance Minister Satsuki Katayama said on Friday as the yen hovered around the key 160-per-dollar. The remarks came as investors scrutinise for clues on whether Japan could intervene in the currency market again to prop up the sagging yen. "On foreign exchange, we will...
Yen falls to 160 level, prompting warnings from Japanese officials
Yen falls to 160 level, prompting warnings from Japanese officials LONDON, June 3 : Renewed strength in the dollar pushed the Japanese yen back to the key 160 level on Wednesday, prompting verbal warnings from authorities and keeping traders on alert for intervention, as fresh Gulf hostilities bolstered demand for the greenback. The U.S. said Iran launched ballistic missiles toward regional neighbours but all failed to hit targets, and that U.S. forces conducted strikes on Qeshm Island in...
Japan must promote yen stablecoins in Asia, ruling party panel says
Japan must promote yen stablecoins in Asia, ruling party panel says TOKYO, June 1 : Japan must promote usage of yen-based stablecoins for settlement in Asia and create a legal framework to allow trading of crypto exchange-traded funds (ETF), a ruling party panel said in a proposal to the government on Monday. "Crypto-ETFs would provide investors with easy-to-understand ways of investment," the proposal said, calling on the government to position the product as an official means of investment...
Fuji Media’s real estate unit attracts 1 trillion yen bids, Bloomberg News reports
Fuji Media’s real estate unit attracts 1 trillion yen bids, Bloomberg News reports June 4 : Broadcaster Fuji Media Holdings received stronger-than-expected interest for its real estate subsidiary Sankei Building, attracting bidders including KKR, Blackstone and Goldman Sachs, Bloomberg News reported on Thursday, citing people familiar with the matter. Last month, more than 15 companies submitted bids for the real estate unit with multiple offers above 1 trillion yen ($6.26 billion), the...
Dollar clings to 2-month high as Gulf hostilities flare, yen wobbles near intervention zone
Dollar clings to 2-month high as Gulf hostilities flare, yen wobbles near intervention zone HONG KONG, June 4 : The dollar clung to its recent strength near a two-month high on Thursday as fresh Gulf hostilities sent oil prices higher and sapped risk appetite, while the Japanese yen hovered near the key 160 level that kept traders on intervention alert. Iranian attacks on Kuwait damaged its airport and injured dozens on Wednesday while the U.S. military carried out strikes near the Strait of...
Dollar falls from highs after Iran halts Israel strikes; yen clings to 160/$
Dollar falls from highs after Iran halts Israel strikes; yen clings to 160/$ NEW YORK/LONDON, June 8 : The dollar pulled back on Monday from its highest level in nearly two months, after Iran said its attacks on Israel had ended. Tehran's comments lured investors into other currencies that had been dented after strong U.S. jobs data on Friday prompted traders to ramp up bets on a Federal Reserve rate rise this year. Iran's military announced on Monday that its first wave of attacks on Israel...