July 31 (Reuters) – The U.S. Treasury has informed a number of banks that it may intervene in the yen market on Friday and that they should “stand ready for future action,” a source familiar with the matter told Reuters.
The notice to banks, channeled through the Federal Reserve Bank of New York, comes a day after Japanese authorities stepped in to prop up the yen, setting the currency up for its biggest weekly rise since February, pulling it off of four-decade lows against the dollar.
(Reporting by David Lawder; Editing by Chizu Nomiyama)
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