Yellen respects Japan's stance of not disclosing fact of fx intervention

Ross J Burland FXStreet

Reuters reported that the US Treasury Secretary Janet Yellen respects Japan's stance of not disclosing whether it had intervened in the foreign exchange market, Japan's top currency diplomat said on Wednesday, adding he was in close touch with the United States every day.

"We will monitor the market to see if there are any excessive, disorderly moves and will continue to take decisive steps as needed," Vice Finance Minister of International Affairs Masato Kanda told reporters at the ministry.

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Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD weakens below 1.1700 as Middle East tensions drive US Dollar strength

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GBP/USD hits new yearly lows near 1.3300

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Gold retains positive bias for the fifth consecutive day on Tuesday as rising geopolitical tensions in the Middle East continue to underpin safe-haven assets. However, a bullish US Dollar keeps the bullion below its highest level since late January, set on Monday, warranting caution before positioning for any further appreciation.