Bitcoin Just Survived the Yen Shock That Crushed Crypto 2 Years Ago
Japan spent nearly $100 billion in August trying to strengthen the yen. Even after that intervention, the currency failed to reach 154 against the dollar. Then traders pushed it there themselves. USD/JPY fell from 160.39 on Wednesday to 154.50 by Monday, meaning the yen strengthened 3.7% in three sessions without another confirmed rescue from Tokyo. The post Bitcoin Just Survived the Yen Shock That Crushed Crypto 2 Years Ago appeared first on BeInCrypto.
Key Takeaways
- Japan spent nearly $100 billion in August trying to strengthen the yen.
- Even after that intervention, the currency failed to reach 154 against the dollar.
- Then traders pushed it there themselves.
Summary generated by IndiCrypto from BeInCrypto. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
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