Marketmind: Yen back near 150 as intervention chatter swirls
© Reuters. Passersby walk past an electric monitor displaying Japan's Nikkei share average and recent movements outside a bank in Tokyo, Japan, March 22, 2023. REUTERS/Issei Kato/File photoThe"will-they-won't-they" discussion over yen intervention has now morphed to"did-they-didn't-they" speculation, after the Japanese currency briefly breached 150 per dollar in U.S. trade and then abruptly reversed course, strengthening to 147.30.
Tokyo last intervened to buy yen in September and October last year, when the currency eventually slumped to a 32-year low of 151.94 per dollar. In Asian hours, the yen was back just below the 150 mark and last at 149.27 per dollar. Investor attention will also be on the political drama playing out in the United States, where a handful of Republicans in the U.S. House of Representatives on Tuesday ousted Republican Speaker Kevin McCarthy.) is planning to lay off employees on Wednesday in the unit of its metaverse-oriented Reality Labs division focused on creating custom silicon, two sources familiar with the matter told Reuters on Tuesday. Reuters was not able to determine the extent of the cuts.
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