India, June 25 -- The Japanese yen weakened against other major currencies in the European session on Thursday, as traders anticipate that a potential trigger for Tokyo authorities is likely to intervene in the currency market.
An additional risk element for short JPY positions is the possibility of a coordinated currency market intervention between the U.S. and Japan due to speculation. The agreement between US Treasury Secretary Scott Bessent and Japanese Finance Minister Satsuki Katayama to take action on currencies if needed raised anticipation of intervention and temporarily strengthened the Japanese yen.
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