FXstreet.com (Córdoba) - The Dollar is extending its losses against the Yen and is getting closer to 87.10, the lowest level of the year. USD/JPY fell to 87.37 reaching a fresh 10-month low. Form there and after the release of economic data in the U.S. the Dollar managed to rise to 87.65 but is still under pressure. Currently the pair trades at 87.55/60, 1.04% below today's opening price.
Andrew Wilkinson, analyst at Interactive Brokers, comments: Former Japanese minister of finance, Mr. Sakakibara, whose ability to influence the value of the domestic currency earned him the mantra, Mr. Yen in the 'nineties, almost told CNBC viewers to read between the lines on prospects for the yen. He said that the government might be expected to intervene when the yen strengthens to the dollar at ¥85.00.