Reuters: Yen spikes with intervention in focus; oil rallies on Iran fears

“I’m not hearing confirmation of official buying activity ‌yet, but if it looks like an intervention duck, walks like an intervention duck, and quacks like an intervention duck, it’s probably an intervention duck,” said Karl Schamotta ​Schamotta, chief market strategist at Corpay Cross-Border Solutions in Toronto. “The dollar is declining in a broad-based manner, but the yen’s move in the last few hours has been uniquely rapid and significant, suggesting that Japanese authorities are stepping in — or that traders are front-running an expected move.”

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