Japan Likely Intervened in Yen on Thursday; USD/JPY Declined Below 161.00

USDJPY0.14%
According to Dutch bank ING analyst Francisco Pesole, Japan likely intervened in the yen exchange rate on Thursday, with USD/JPY declining below 161.00 even before weaker U.S. non-farm payroll data further pressured the currency. Pesole noted that initial weakness could not be ruled out as resulting from foreign exchange intervention. Despite some yen recovery, risks of further intervention remain as Japan typically acts around holidays and spreads operations across multiple days.
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