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Forex - Dollar up vs. yen, Swissie as possible intervention eyed

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Forexpros - The U.S. dollar was higher against the yen on Monday, amid growing speculation that Japanese authorities would conduct a new currency market intervention to curb the yen's gains.

During European morning trade, the greenback was higher against the yen, with USD/JPY gaining 0.20% to hit 76.69.

Earlier in the day, Japan's finance minister Yoshihiko Noda warned that the country would take decisive action against any speculative moves, saying "We will watch markets even more closely than before to see whether there is any speculative activity. We won't rule out any measures and will take decisive action when necessary."

The greenback was also higher against the Swiss franc, with USD/CHF rising 0.14% to hit 0.7864.

Elsewhere, the greenback was fractionally lower against the euro, with EUR/USD easing up 0.05% to hit 1.4401.

German Finance Minister Wolfgang Schaeuble said in a radio interview earlier that the euro remained a stable currency and that markets still had confidence in the single currency.

The greenback also slipped against the pound, with GBP/USD inching up 0.09% to hit 1.6481.

Meanwhile, the greenback was lower against its Canadian, Australian and New Zealand counterparts, with USD/CAD shedding 0.31% to hit 0.9865, AUD/USD rising 0.21% to hit 1.0425 and NZD/USD climbing 0.44% to hit 0.8216.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, dipped 0.03% to hit 74.02.

Later in the day, the U.S. was to publish a report on mortgage delinquencies.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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