By Alun John and Ankur Banerjee
LONDON/SINGAPORE, June 30 (Reuters) - The steadily climbing dollar pushed the yen down to levels not seen since 1986 on Tuesday, stoking worries that direct intervention from Tokyo was near, if perhaps not immediate, and also putting the euro under pressure.
The greenback climbed to as high as 162.41 yen for the first time in 40 years on Tuesday and was last at 162.15, up slightly on the day. ******* anese Finance Minister Satsuki Katayama reiterated that authorities stood ready to respond appropriately at any time, but refrained from stronger rhetoric.
"The dollar is the main story at the moment and dollar/yen the key focus within that," said Lee Hardman, senior currency ******* yst at MUFG.
"The market has moved to price in a higher chance of the Federal Reserve hiking rates, and while our view is ultimately the Fed can look through this inflation pick up there isn't an immediate trigger for that unless we get softer data or Fed officials dial back the rhetoric."
LONDON/SINGAPORE, June 30 (Reuters) - The steadily climbing dollar pushed the yen down to levels not seen since 1986 on Tuesday, stoking worries that direct intervention from Tokyo was near, if perhaps not immediate, and also putting the euro under pressure.
The greenback climbed to as high as 162.41 yen for the first time in 40 years on Tuesday and was last at 162.15, up slightly on the day. ******* anese Finance Minister Satsuki Katayama reiterated that authorities stood ready to respond appropriately at any time, but refrained from stronger rhetoric.
"The dollar is the main story at the moment and dollar/yen the key focus within that," said Lee Hardman, senior currency ******* yst at MUFG.
"The market has moved to price in a higher chance of the Federal Reserve hiking rates, and while our view is ultimately the Fed can look through this inflation pick up there isn't an immediate trigger for that unless we get softer data or Fed officials dial back the rhetoric."
3 months ago
