Yen Intervention News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The Bank of Japan decision is coming up later

Many economists and analysts expect the U.S. economy to slow in the fourth quarter, which makes further rate hikes less likely and will dent the appeal of the greenback, which has benefited from the relative strength of the United States compared to other major economies.

Investors wishing to put a dark October behind them first need to negotiate Wednesday's Fed policy decision, Treasury's debt sale plans and the beginnings of a slew of labor market updates. As world markets kick off a new month in better spirits that they were for most of the last one, overseas drama centred on Japan's yen - which plummeted close to last year's three-decade low of 151.94 on Tuesday after the Bank of Japan made only a minor tweak to its yield control policy. Masato Kanda, Japan's top currency diplomat, protested the move on Wednesday, saying authoriti...

The "will-they-won't-they" discussion over yen intervention has now morphed to "did-they-didn't-they" speculation, after the Japanese currency briefly breached 150 per dollar in U.S. trade and then abruptly reversed course, strengthening to 147.30.

Other currencies similarly fell against the yen in the previous session, with the euro losing more than 1.5% to a low of 154.39 yen. It recovered some of those losses and last bought 156.18 yen.