Market suspects yen intervention

Some dealers reported dollar buying over several days in the London and New York trading sessions. The Japanese currency spent most of past week hovering around the 120 level against the dollar, despite moves in other currency pairs against the greenback.

"The market has been devoid of direction in the last few days and we have been pinned to 120, which has given rise to the view that there has been covert action," said Jeremy Stretch, senior currency strategist at RBC Capital Markets in London.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services -, or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: