KONTAN.CO.ID - NEW YORK. The U.S. dollar slipped on Tuesday but strengthened against the Japanese yen as expectations of large interest rate differentials continued, even after new warnings from Japanese officials about their willingness to prop up their currency. Japan's top currency diplomat Masato Kanda said the country may have to take action against any disorderly, speculative-driven foreign exchange moves, signaling the Bank of Japan (BOJ) remained ready to intervene in the market after two suspected interventions of possibly almost $60 billion last week. "The big action last week and a little bit before was the BOJ, which has achieved some success, but there's nothing really to go on right now, so things are just sort of sitting still," said Joseph Trevisani, senior analyst at FX Street in New York.
US Dollar Edges Lower But Up Against Yen, Aussie
KONTAN.CO.ID - NEW YORK. The U.S. dollar slipped on Tuesday but strengthened against the Japanese yen as expectations of large interest rate differentials continued, even after new warnings from Japanese officials about their willingness to prop up their currency. Japan's top currency diplomat Masato Kanda said the country may have to take action against any disorderly, speculative-driven foreign exchange moves, signaling the Bank of Japan (BOJ) remained ready to intervene in the market after two suspected interventions of possibly almost $60 billion last week. "The big action last week and a little bit before was the BOJ, which has achieved some success, but there's nothing really to go on right now, so things are just sort of sitting still," said Joseph Trevisani, senior analyst at FX Street in New York.