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International Business Times
International Business Times
Business
AFP News

Yen Gains After Hitting 38-year Low, Traders On Intervention Watch

Japan's top currency official Masato Kanda has said authorities are ready to step into forex markets to support the yen (Credit: AFP)

The yen edged back slightly Thursday after hitting a 38-year low against the dollar, putting investors on alert for a possible intervention by Japanese authorities, while investors awaited US inflation data that could spark another round of volatility.

The Japanese unit's latest retreat came as uncertainty surrounded the Federal Reserve's timetable for cutting interest rates, and the Bank of Japan's caution in tightening monetary policy.

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