HomeFinancial MarketsYen Strengthens as Investors Await News On Government Intervention

Yen Strengthens as Investors Await News On Government Intervention

The yen strengthened against the U.S. dollar on Tuesday as markets braced to detect signs of Japanese government intervention in an effort to keep the yen strong. The dollar fell 0.18% on Tuesday morning to 144.44 yen, erasing part of its 0.27% gain from Monday.

Despite its latest uptick, the yen continues to hover near its almost eight-month low of 145.07 per dollar. In an effort to prevent further depreciation, Japanese Finance Minister Shunichi Suzuki warned against excessive selling of the currency.

In comparison, the euro was down 0.15% against the greenback at $1.089, while the sterling climbed 0.18% against the dollar to $1.271. The U.S. dollar index, which tracks the greenback against six major world currencies, was little changed at 102.99.

Early on Tuesday, Japanese financial diplomat Masato Kanda revealed that officials had established close contact with U.S. Treasury Secretary Janet Yellen and other foreign authorities in an effort to remain on top of developments in currencies and the broader financial market.

Stocks Continue Slide as Israel-Iran Tension Ensues

Stocks on the New York Stock Exchange continued their drop-off on Friday as investor anxiety rose following Israel's retaliatory strike against Iran. Market composure...

United Airlines Stock Jumps 14% After Strong Q1 Results and Optimistic Projections for Q2

Following a strong first-quarter earnings report, United Airlines saw its stock jump 14% on Wednesday. Investors were also intrigued by the company’s optimistic projections...

iPhone Shipments Drop By 10%, Get Overtaken By Samsung as World’s Largest Phone Seller

2024 is shaping up to be a challenging year for tech giant Apple. The company saw its iPhone shipments drop by almost 10% in...