japan: Japan's policymakers hold fire as yen enters interven

japan: Japan's policymakers hold fire as yen enters intervention range

A weaker yen generates suspicion that the Japanese government may not intervene to prop up the yen given some benefits from a weaker currency: surging exports helped economic growth, at an annualised basis, reach 6% in the second quarter, and lower global oil prices have kept a lid on the import bill. Further, the gap between Japanese and U.S. yields underpins the yen's weakness.

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