The yen fell below 160 against the dollar, analysts said it may be an own error

stock analyst • • stock index

In early trading on Monday, the yen fell below 160 against the dollar for the first time since 1990.

In early trading on Monday, the yen fell below 160 against the US dollar for the first time since 1990.
Mizuho Bank said that the yen exchange rate suddenly fell in early Asian trading on Monday, highlighting the market\’s increasing nervousness about the yen and possible official intervention.
Vishnu Varathan, head of economics and strategy at Mizuho Bank in Singapore, said that this may be an own trade. It also shows the extreme speculative behavior in the spot and options fields and the high sensitivity of investors to intervention risks.
In the absence of official intervention, the market appears to be trying to push USD/JPY towards 160.

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