Japanese Yen Ignores Intervention Threat, Soars to 14 Year High Against US Dollar

The Japanese Yen soared to a 14-year high against the US dollar despite direct government warnings of intervention against ‘abnormal’ currency moves. Further volatility looks likely ahead as liquidity thins out ahead of the US Thanksgiving holiday.

Key Overnight Developments

• Bank of Japan May Resume Buying Corporate Debt, Meeting Minutes Show
• Japan’s Fujii Says Government Must Act Against ‘Abnormal’ Currency Moves
• Australian Business Investment Unexpectedly Tumbles in the Third Quarter

Critical Levels



The overall result of a volatile overnight session saw the Euro retrace some of its US-session gains, trading down as much as 0.2% against the US Dollar. The British Pound traded sideways in a choppy range near the 1.67 level.