Risks of near-term FX intervention by Japanese authorities to prop up the yen persist, MUFG Bank's Michael Wan says in a research report. "We would be quite wary in the near-term though of intervention risks," the senior currency analyst says. Japanese authorities have a bias to intervene during periods of low liquidity, Wan says, noting looming U.S. holidays. Also, there are risks of intervention if U.S. economic data such as nonfarm payrolls report due out today are "supportive of the directional bias for Japan's Ministry of Finance," Wan says. The dollar is little changed at 162.52 yen, LSEG data show. (ronnie.harui@wsj.com)
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Risks of Near-Term FX Intervention to Prop Up Yen Persist — Market Talk
Risks of near-term FX intervention by Japanese authorities to prop up the yen persist, MUFG Bank's Michael Wan says in a research report. "We would be quite wary in the near-term though of intervention risks," the senior currency analyst says. Japanese authorities have a bias to intervene during pe…