US dollar sinks on yen intervention talk
The dollar fell in Asian trade Monday (Jan 26) amid speculation US officials could join their Japanese counterparts to help support the yen after a recent sell-off, while equities started the week on a tepid note. Reports that the Federal Reserve Bank of New York had checked in with traders about the yen's exchange rate sparked a surge in the Japanese currency, according to Bloomberg, pushing it up more than 1 per cent to 153.89 per dollar - its strongest level since November. The yen has been sliding amid worries about Japan's fiscal position, the central bank's decision not to hike interest rates further .$RIVER
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