Dollar slides as yen hits multi-month high on intervention risk

The U.S. dollar fell broadly on 1 月 27 日, and the Japanese yen surged to a more-than-two-month high after comments from Japan's prime minister and the Finance Ministry spurred speculation that Washington and Tokyo could act together in the FX market, according to BlockBeats. 美元兑日元在过去两个交易日中下跌近 3%, marking the steepest two-day decline since the market turmoil associated with last April's "Liberation Day" tariffs, with traders citing heightened intervention risk. A source said the New York Fed contacted dealers to inquire about 美元/日元 rates, a step viewed as a potential precursor to intervention, while Nomura's G10 FX strategy head Dominic Bunning noted that coordinated efforts by Japan's Finance Ministry and the U.S. Treasury would be a stronger force to limit USD/JPY upside. Goldman analysts said the signal for intervention appears stronger than in 2022 or 2024 if U.S. participation is possible, though they cautioned that direct operations often have only temporary impact when broader pressures are justified; ahead of a Federal Reserve meeting and a possible Trump announcement on the next Fed chair, investors trimmed dollar positions as worries over another U.S. government shutdown weighed.