The Japanese yen showed signs of recovery yet lingered close to its 38-year low against the dollar. Concerns heightened regarding potential intervention by Japanese authorities.
Finance Minister Shunichi Suzuki voiced worries about the yen's weakness and proposed intervention to stabilize exchange rates, aligning with Vice Finance Minister Masato Kanda's perspective.
Japan's 30-year government bond yield surged to its highest level in over a decade following positive retail trade data and the Bank of Japan's hints at possible interest rate hikes amidst growing inflation.
The yen faces downward pressure from US-Japan interest rate gaps favoring carry trades. Market attention shifts to upcoming inflation figures in Japan and US PCE data, impacting rate projections and the yen's value.
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