The threat of intervention was especially pronounced Wednesday following the yen¡¯s bold but small advance above ?163 to the dollar overnight.
¡°Rate checks or actual market intervention could take place without prior warning,¡± cautioned Sony Bank in a report.?
Japan¡¯s currency, which has been above ?160 to the dollar for about two months and above ?162 to the dollar most of July, crept across the ?163 line tentatively at first around midday in New York on Tuesday, and then weakened decisively.
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