Yen's surge after Fed announcement stirs fresh intervention talk

Data suggests authorities possibly pumped in $19bn to prop up yen

20240501N Fed meeting reax

The U.S. Federal Reserve has held off on a rate cut amid sticky inflation. © Reuters

JACK STONE TRUITT and MASAYUKI YUDA, Nikkei staff writers

NEW YORK/TOKYO -- The yen strengthened to 153.10 to the dollar at its peak on Wednesday following the U.S. Federal Reserve's decision to keep interest rates steady, sparking speculation about another intervention by the Japanese government and the Bank of Japan.

The Fed's latest policy statement pointed to disappointing inflation data and suggested holding off from any policy rate move would allow the economy to balance out.

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