Thursday saw the currency of Japan climb against the U.S. dollar after having endured losses during the past three-straight days of trading on foreign exchange markets, Bloomberg reports.
For the sixth-straight week, Japanese investors slashed holdings of international bonds, which dulled the likelihood of overseas funding. The yen's losses during the past two trade sessions amounted to 0.3 percent, an amount the yen at times achieved against the world's reserve currency on Thursday.
"My view on that 100 level is that it's just a number. The bigger issue is what happens after it breaks, and whether it's sustainable," senior currency strategist Sue Trinh with RBC in Hong Kong told Reuters on Thursday. "To date, data has failed to show significant outflows from Japan."
The Ministry of Finance of Japan announced on Thursday that investors from the Pacific Rim nation reduced interest in international bonds for week ended April 19, the news source reports.
Reuters reports the yen, which is undergoing strong intervention by the government to spur the globe's third-largest economy, was hovering against the U.S. dollar prior to the release of the overseas bonds data by the finance ministry.
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