Bank of Japan Intervenes in Foreign Exchange Markets After Yen Slips to 24-Year Low

Bank of Japan Intervenes in Foreign Exchange Markets After Yen Slips to 24-Year Low


While the greenback has been rising higher, the Japanese yen tapped a 24-year low and Japan decided to intervene in foreign exchange markets (forex) for the first time since 1998. Reports say the Bank of Japan conducted the first forex intervention in 24 years, after the Japanese central bank kept its benchmark bank rate suppressed for quite some time. Following the intervention, the yen rallied as the U.S. dollar took a steep dive against the Japanese yen during Thursday’s trading sessions. However, the greenback has stepped back up to the plate and the yen’s recent gains are starting to waver.

Yen’s Struggle Causes Bank of Japan to Step Into the Buy-Side of Forex Markets for the First Time in Over 2 Decades

The U.S.

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