Frail yen whipped around as intervention threat swirls
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The yen strengthened slightly amid U.S. dollar weakness after Japan's finance minister signaled readiness to intervene against yen declines. Despite intervention threats, yen weakness may persist due to slow BOJ rate hikes. The dollar index dropped, indicating a multi-year downtrend. U.S. GDP data, delayed by a government shutdown, is expected to show a K-shaped economy with a 3.3% growth rate last quarter. Other currencies like the Australian and New Zealand dollars showed slight gains.
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