Yen Rises as Traders Antsy Over Rate Checks, Likely Intervention
- Investors debate the implication for July 31 policy decision
- Yen positioning remains near most-bearish since 2007: CFTC
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The yen advanced against the dollar in choppy trading as traders remained on edge after a suspected intervention and rate checks by Japanese authorities.
The currency rose as much as 0.9% on Friday to 157.38 per dollar after US economic data, wiping out an early loss of as much as 0.4%. Earlier, in the Tokyo session, the Bank of Japan triggered a brief rally in the yen when it called traders to check on exchange rates.