Yen Set for First Monthly Gain in Five

2026-01-30 02:13 By Jam Kaimo Samonte 1 min. read

The Japanese yen slipped toward 154 per dollar on Friday but remained on track for its first monthly gain since August, as talks of intervention pushed the currency to four-month highs, even though central bank data suggests authorities have not officially acted.

The yen is up nearly 2% this month and has gained as much as 4.6% from January lows.

The recent rally was initially sparked by reports that the New York Federal Reserve conducted a rate check on the dollar/yen, fueling speculation of a potential joint US-Japan currency intervention.

However, US Treasury Secretary Scott Bessent dismissed such reports, reaffirming that the US maintains a strong dollar policy.

Traders, nevertheless, remain cautious about the possibility of unilateral intervention by Japanese authorities, following a series of verbal warnings from local officials.

On the economic front, Japan’s retail sales unexpectedly fell in December, while industrial production declined less than estimated.



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