Market News
Dollar slips across the board; yen higher on intervention risk - REUTERS
By Saqib Iqbal Ahmed and Samuel Indyk
NEW YORK, Jan 26 (Reuters) - The U.S. dollar slipped across the board on Monday and the Japanese yen jumped to a more than two-month high on Monday as speculation mounted of coordinated currency intervention by authorities in the U.S. after remarks from Tokyo's prime minister and Japan's leading currency diplomat.
Investors also scaled back their dollar positions ahead of a Federal Reserve meeting and a possible announcement by the Trump administration of a new Fed chair. Worries about another U.S. government shutdown also pressured the dollar.
The dollar was 1.3% lower against the yen at 153.73, on pace for a nearly 3% slide over the last two trading sessions, the worst such weakening since the August 2024 when the Japanese currency appreciated sharply due to an unwind of the popular yen carry trade.
