Shirakawa applauds Tokyo’s yen sale, analysts less convinced
Tokyo's intervention on Wednesday in yen markets, made in a bid to contain the soaring currency, elicited a mixed response, with markets rejoicing while analysts remained unconvinced.
The Bank of Japan is thought to have sold around Y100 billion ($1.16 billion) on behalf of the finance ministry in its efforts to limit the currency's surge. The yen dropped from Y84.875 to the greenback at 04:00 GMT to Y85.595 by the close of trade in London. In Tokyo, the benchmark Nikkei 225 stock index gained
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