Feb
23
Yen Gain Has Japan’s Second-Largest Lender Warning of 110 Breach
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Currency has strengthened versus all 31 major peers this month
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Falling stocks, commodities drive demand for haven assets
The yen’s surge this month has Japan’s second-biggest lender saying it may strengthen beyond 110 per dollar for the first time since central bank Governor Haruhiko Kuroda expanded monetary easing in 2014.
Japan’s currency has strengthened against all its 31 major peers in February as sliding stocks and commodities drove investors to haven assets. Month-end buying and the prospect that Japanese policy makers will have to set aside any intervention plans due to this week’s Group-of-20 meeting may add to yen strength, said Masato Yanagiya, head of foreign-exchange and money trading at Sumitomo Mitsui Banking Corp. in New York…
Yen Gain Has Japan’s Second-Largest Lender Warning of 110 Breach
