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The Japanese Yen suddenly strengthens, traders alert to Japanese intervention risks
Latest news, the Japanese Yen suddenly surged during trading, with USD/JPY dropping sharply to 157.33 at one point, then slightly rebounding, currently around 158.23.
This sudden market move has sparked speculation that Japan’s Ministry of Finance or the Bank of Japan may have already intervened or are about to intervene in the currency market to prevent further Yen depreciation.
Data shows that the 90-day correlation coefficient between Bitcoin and the Japanese Yen is approximately 0.86, at a historical high, indicating a clear short-term co-movement. In other words, Yen strength often coincides with Bitcoin’s synchronized fluctuations.
The market generally believes that if this is just short-term volatility or a technical correction, the impact on the coin’s price will be limited; but if Japanese authorities confirm intervention or USD/JPY falls below the 157 level, market volatility could significantly increase.
#日元 #USD/JPY #日本干预 #Bitcoin #BTC #Cryptocurrency