US Dollar Pressure Mounts as Traders Reopen Debasement Debate
By asking New York traders to confirm the price of the Japanese yen against the dollar on Friday, US authorities handed investors yet another reason to sell the greenback. The yen jumped and the dollar weakened on Monday as investors decided the so-called rate check was the biggest sign yet of official disquiet toward the sliding Japanese currency and that the next step could be an intervention to buoy it. That the calls were made in US hours by the Federal Reserve Bank of New York also fanned speculation President Donald Trump’s administration might be willing to unite with Japan to rescue the yen for the first .$ACU
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