Yen Is Volatile as Central Bank Rate Checks Fuel Intervention Speculation
- The nation had already stepped in twice in April and May
- Currency chief declines to say if Japan intervened or not
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The yen was volatile Friday as the Bank of Japan conducted so-called rate checks with traders, reinforcing perceptions that authorities intervened in the market on Thursday to prop up the currency.
It whipsawed during morning trading in Tokyo, with several market participants saying that the central bank had called and asked for indicative exchange rates against the euro.