The Japanese yen fell to 160 against the US dollar in Asian markets on Monday and briefly touched 160.03 against the dollar, the weakest level since April 1990 when it hit 160.15. according to FactSet data, cited by CNBC.
The currency later recovered, being traded around 156.5 units against the dollar.
The Commonwealth Bank of Australia said that Japan’s Finance Ministry is to publish its market intervention statistics for the period March 28 to April 26 on Tuesday.
However, he said: “I have not seen any information from the press confirming the intervention. Today’s JPY volatility may reflect market restlessness amid reduced liquidity. We are unlikely to receive comments from Japanese officials today as Japan is on holiday,” the bank said.
Japanese authorities have repeatedly warned against “excessive” movements in the yen, but have not made any official announcements to support the currency. Some market observers suspected that the authorities would intervene at the 155 level, but the yen crossed this threshold last week.
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