Yen Holds Steady Amid Intervention Fears and Holidays
The yen stabilized at 156.885 as markets watched for further intervention during Japan's holidays. Traders also weighed geopolitical news and the RBA policy outlook.
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Japan officials maintained a steady USD/JPY at 156.885 during early trading on May 4 after suspected market interventions. The yen rose 0.1% as markets opened in Asia, following a 1.4% gain over the past month. Investors are monitoring whether Tokyo will deploy further capital to support the currency while local markets remain closed for holidays.
