BOJ Conducts Rate Check Amid Yen Speculation Fears
The Bank of Japan (BOJ) conducted a rate check with financial institutions ahead of a five-day holiday period in Japan, sparking caution over possible currency market intervention.
Market sources said the BOJ asked about currency market levels after which the yen strengthened by about 1 yen against the dollar between late Friday and early Saturday.
The U.S. currency fell from above 157.50 yen to below 157 yen, according to the sources.