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MNI BRIEF: Japan Buys Yen For First Time Since 1998

(MNI) Tokyo

Japan intervenes to prop up yen for first time since 1998.

Japan's deputy finance minister confirmed that the country conducted yen-buying interventions for the first time since June 1998, NIkkei reported, fuelling a rebound in the currency which had earlier fallen after the Bank of Japan left monetary policy unchanged.

There was no immediate statement from the BOJ, which has been coming under political pressure to support the yen. ((See MNI INSIGHT: Yen At 150 Would Put Pressure On BOJ)

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Japan's deputy finance minister confirmed that the country conducted yen-buying interventions for the first time since June 1998, NIkkei reported, fuelling a rebound in the currency which had earlier fallen after the Bank of Japan left monetary policy unchanged.

There was no immediate statement from the BOJ, which has been coming under political pressure to support the yen. ((See MNI INSIGHT: Yen At 150 Would Put Pressure On BOJ)