Market News
Yen slips ahead of Japan election, intervention fears linger By Stefano Rebaudo and Ankur Banerjee - REUTERS
Summary
- Traders on watch for BoJ intervention to support yen near 160
- Concerns over possible increased fiscal spending weigh on Japanese currency
- Risks to Fed independence remain under spotlight
Jan 15 (Reuters) - The yen edged lower on Thursday as traders fretted over the impact of possible increased fiscal spending, while keeping a close watch for any signs of Bank of Japan intervention to shore up the currency near the 160 level.
Japan's Prime Minister Sanae Takaichi plans next week to capitalise on a surge in public support for a new leader who has promised to spur economic growth, tackle cost-of-living concerns and tighten immigration rules.
