Yen weaker in thin trading as traders stay alert to intervention risk
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The Japanese yen weakened against the US dollar amid concerns of potential intervention to support the currency. Despite a recent Bank of Japan interest rate hike, expansive fiscal policy and inflation above target levels challenge economic stability. Japan's government proposed record spending while curbing debt issuance. The dollar rose slightly against the yen and euro, while the yen remains under pressure. Bitcoin also saw a slight decline. The Federal Reserve is expected to cut rates next year, balancing a weakening labor market with inflation concerns.
Source: Businesstimes The copyright of this article belongs to the original author/organization.
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