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Yen's rise could spark conflict over currency market intervention

Japanese currency nears 99 to the dollar on diminishing prospects of US interest rate hike

Many analysts argue that unilateral foreign exchange market intervention by Japanese authorities to sell yen and stem the currency's rise would anger Washington and other national capitals.


JAPANESE authorities showed signs of growing alarm on Thursday as the yen rose briefly to near 99 to the dollar amid market fears that there is no obvious floor beneath the US currency, given what are seen now as diminishing prospects of a further hike in US interest rates this year...

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