Yen Retreats as Intervention Fears Linger
The Japanese yen retreated against the dollar on Monday amid low liquidity and concerns over potential currency intervention. Meanwhile, the dollar rose as markets assessed the path of US interest rate hikes following recent comments from Federal Reserve officials.
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The Japanese yen retreated on Monday, slipping 0.38% against the greenback to 157.48 USD/JPY, heading for its fifth decline in six sessions. Investors remained on guard for potential currency intervention as Japan marked a three-day holiday. Low holiday liquidity amplified market sensitivity following last week's policy shift by the central bank.
