Japanese Yen gains amid speculation of government intervention
The Japanese Yen has edged higher against the USD as investors speculate about potential government intervention to support the currency.
The USD/JPY pair currently trades just above the 163.00 mark, close to a four-decade high.
Japan’s Finance Minister has reiterated the government’s readiness to take decisive action on foreign exchange as needed, lending some support to the Yen.
Despite this, the downside remains cushioned due to the stark contrast in monetary policy between Japan and other major economies.