Japan’s Suzuki Flags Intervention Impact as Yen Awaits Fed Meet
- Officials announced record monthly intervention on Monday
- Yen has strenghtened from a three-decade low in October
This article is for subscribers only.
Japan’s intervention in currency markets is having an impact, according to Finance Minister Shunichi Suzuki, speaking a day after official figures showed the country spent a record $42 billion in October to prop up the embattled yen.
The Japanese currency climbed 0.3% to 148.25 per dollar in Tokyo on Tuesday, well off its 32-year low of 151.95 reached on Oct. 21. That level was widely believed to have prompted authorities to step into markets again.