Japanese yen declines despite fears of intervention

Yen continued to decline against the dollar on Tuesday as interest rate differentials weighed on the currency despite new warnings from Japanese officials after two rounds of suspected intervention resulting from a wave of dollar selling last week.

According to Reuters, the Australian dollar fell 0.36% to $0.6601, retreating from the highest level recorded on Friday at $0.6650, the level it previously recorded on March 8.

The dollar gained 0.44% to rise to 154.5635 Japanese yen, continuing its gains after rising 0.58% on Monday.

The yen fell on Friday to 151.86 yen for the first time since April 10, as lower-than-expected monthly US jobs data exacerbated losses after Bank of Japan data indicated that official intervention could have amounted to about nine trillion yen ($58.37 billion). ).

The dollar index, which measures the performance of the US currency against a basket of six major currencies, rose 0.04% to 105.19, after falling to 104.52 on Friday.

The euro stabilized at $1.07655, and the British pound fell 0.07% to $1.2552.