Japanese Currency Weakens on Talks About Intervention

The Japanese yen declined today versus the euro and the Great Britain pound on the speculation that the policy makers would take measures to prevent the currency appreciation, which may hurt the nation’s recovery base on the exports. The currency rose against the US dollar.
The policy makers from the Ministry of Finance and Bank of Japan met to discuss financial markets, but it was told that they haven’t discussed the monetary policy at the meeting. The last time the policy maker intervened on March 16th 2004. The exporters said that they can receive profit as long as the yen remains below 92.90 per the dollar.
USD/JPY traded near 85.58 today as of 8:28 GMT. EUR/JPY traded at about 110.40, while GBP/JPY rose to 134.18.

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