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An IMF official said after talks with Japanese authorities that they remain committed to flexible exchange rates. The IMF argued that foreign exchange intervention could reduce excess volatility and better align the yen with fundamentals.
USD/JPY showed little response, having recently retreated from about 147.20.
Possible yen intervention could push USD/JPY sharply lower, which would cut Japan's dollar-priced feed import costs. Markets are watching for this as a source of currency volatility.
investinglive.comEamonn SheridanJan 31, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
