CoinDesk·2 min read·medium
Live updates: Bitcoin at $63,600 as rare US-Japan yen action tests carry-trade fears
S
Shaurya Malwa
✦AI Summary
Bitcoin remains stable near $63,600 despite recent Japanese government intervention to support the yen. Analysts are monitoring the situation for potential impacts on the 'carry trade,' where investors borrow in yen to fund higher-yield assets.
Japan and the United States confirmed they bought yen on Friday after the currency weakened to 163.73 per dollar. Bank of Japan data suggest Tokyo may have spent as much as $36.6 billion, while the size of the U.S. contribution has not yet been disclosed.
economycrypto
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