TOKYO, Jun 27 (NNN-NHK) – The Japanese yen fell past 160 against the U.S. dollar yesterday, for the first time since late Apr, fueling expectations of another possible yen-buying intervention.
The U.S. dollar traded at 160.05 yen at one point during the day, marking the Japanese currency’s weakest level since Apr 29, on buying, amid expectations the interest rate differential between Japan and the United States will remain wide.
On Apr 29, when the U.S. currency briefly climbed to 160.24 yen, its highest level in 34 years, the Japanese government and the Bank of Japan apparently stepped into the market, and spent some 9.8 trillion yen (61.64 billion dollars) to prop up the currency.– NNN-NHK
