Japanese Authorities on Standby for Intervention
- Dollar reaches highest level against yen since 1990
- Japanese authorities prepared to intervene
- Investors likely to keep adding pressure on yen
- Yen tumbles towards 33-year low
The dollar has reached its highest level against the yen since 1990, despite Japanese authorities stating their readiness to intervene. The Bank of Japan’s decision to end its yield-curve control policy has disappointed some, leading to the dollar’s rally. The Japanese central bank has announced unscheduled bond buying operations, and authorities are prepared to intervene if necessary. However, investors are expected to continue adding pressure on the yen, potentially pushing authorities to test new intervention levels. The yen is also tumbling towards a 33-year low. The Federal Reserve’s message is unlikely to provide much relief to treasuries, making it unlikely for bearish positions on USD/JPY to be taken.
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Factuality Level: 7
Justification: The article provides information about the dollar rallying against the yen and the Bank of Japan’s actions. It includes a quote from a currency strategist at ING. However, the article lacks in-depth analysis and context, and there is no mention of any opposing viewpoints or potential risks. Overall, the article provides some factual information but could benefit from more comprehensive reporting.
Noise Level: 3
Justification: The article is very short and lacks in-depth analysis or evidence to support its claims. It also includes irrelevant information about text-to-speech technology and a request for feedback.
Financial Relevance: Yes
Financial Markets Impacted: Currency markets
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the rally of the dollar against the yen, indicating a financial impact on currency markets. There is no mention of an extreme event.
