Japan Intervenes to Support Yen Amid Oil Price Spike
Japan intervened Thursday to support the yen against the dollar as oil prices rose. Officials are also weighing intervention in oil futures to curb volatility.
Xurve View
Insights:
Xurve View
Japan intervened in the foreign exchange market on Thursday morning to support the yen against the United States dollar. The move follows a selloff in USD/JPY fueled by rising West Texas Oil prices linked to the Iran war. Investors face heightened volatility as Tokyo considers unprecedented steps into energy futures to stabilize its import-dependent economy.
