Asia FX falls, USDJPY at 1990 highs as dollar strengthens
Investing.com-- Most Asian currencies retreated on Wednesday, with the Japanese yen hitting its weakest level since 1990 as the dollar firmed ahead of more cues on inflation and the Federal Reserve later this week.
Finance Minister Shunichi Suzuki said on Wednesday that he would take “decisive steps” against excessive currency moves, echoing his comments from 2022, when the government engaged in record-high levels of intervention to support the yen.Weakness in the yuan came despite a series of stronger midpoints from the People’s Bank of China, while recent reports also showed the PBOC instructing major state-owned banks to sell dollars and buy yuan.
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