Yen Breaks ¥153 Against Dollar, Trend Reversal Possible — SkimNews
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- The yen rallied Tuesday morning, briefly breaking ¥153 to the dollar and raising the possibility that its weakening trend has reversed
- Analysts said the rebound began on Sept. 2 and is probably not the result of official intervention, since the currency is not appreciating fast enough to suggest government buying
- The strengthening may stem from a sense that Japan will act with more resolve to halt the yen's slide after pressure from the United States
Why it matters: If the yen's weakening trend has genuinely turned, Japanese households and importers get relief from costlier fuel and food imports, while U.S. pressure on Tokyo to act on currency weakness appears to be registering in market behavior — a shift analysts say is happening without formal intervention.
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