Business
Dollar Falls as Yen Strengthens on Intervention Speculation
The dollar remained weak after reaching a four-month low against a basket of currencies overnight as the Japanese yen surged on speculation of coordinated U.S.-Japan interventions to support the currency.
The Federal Reserve Bank of New York contacted potential trading counterparties on Friday for rate checks, The Wall Street Journal reported.
Rate checks are inquiries about available pricing and can precede direct currency interventions.
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