The Japanese Yen was lower again against the United States Dollar on Wednesday after what’s already been a wild ride for the currency this week.
If, as looks increasingly likely, Japan’s Ministry of Finance intervened in the foreign exchange market on Monday to counter Yen weakness, it hasn’t bought a lot of respite. Although Tokyo has not so far confirmed or denied any action, wire reports based on money market data suggest that as much as $35 billion could have been spent to prop the Yen up.
