The Japanese yen held its recent advance to around 156 per dollar on Wednesday, hovering at one-week highs and benefiting mainly from dollar weakness as traders ramped up bets on a US Federal Reserve rate cut in December. Those expectations grew after the latest US data pointed to softening consumer spending, while reports suggested that a dovish candidate is being considered for the next Fed chair.
The yen also found support amid rising speculation that Japanese authorities could intervene in currency markets, with the US Thanksgiving holiday on Thursday creating a potential window for Tokyo to act. On Sunday, Takuji Aida, an adviser to Prime Minister Sanae Takaichi, said Tokyo is prepared to intervene actively to offset the negative economic effects of a weak yen, echoing recent remarks from Bank of Japan Governor Kazuo Ueda and Finance Minister Satsuki Katayama.(az)
Sumber: Treading Economics
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