Yen Plummets To 160 Against Dollar, Lowest Since December 1986: Is Bank Of Japan Intervention Imminent?
Portfolio Pulse from Piero Cingari
The Japanese yen has plummeted to 160 against the dollar, its lowest level since December 1986, prompting speculation about potential intervention by the Bank of Japan. The yen's depreciation is tracked by the Invesco CurrencyShares Japanese Yen Trust (NYSE: FXY). Analysts suggest that the Bank of Japan may intervene depending on upcoming economic data and the speed of yen depreciation.
June 26, 2024 | 3:26 pm
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The Invesco CurrencyShares Japanese Yen Trust (NYSE: FXY) has seen a significant drop as the yen plummets to its lowest level since 1986. Speculation about potential Bank of Japan intervention could lead to increased volatility in the short term.
The yen's significant depreciation directly impacts FXY, which tracks the yen's value. Speculation about potential intervention by the Bank of Japan adds uncertainty and could lead to increased volatility in the short term.
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