SINGAPORE, Sept 6 Reuters The dollar held near a sixmonth peak on Wednesday as jitters over China and global growth weighed on risk appetite, while the yen was close to a 10month low, drawing the strongest warning since midAugust from Japan39;s top currency diplomat.
The yen strengthened 0.19 to 147.42 per dollar in Asian hours, but was near 147.82, the lowest since Nov. 4 it touched earlier in the session. The Asian currency has hovered around the key 145 per dollar level for the past few weeks, leading traders to keep a wary eye on signs of intervention by Tokyo.
We won39;t rule out any options if speculative moves persist, Japan39;s top currency diplomat Masato Kanda told reporters on Wednesday.
Kanda, Japan39;s viceminister of finance for international affairs, has been the central figure in the country39;s efforts to stem the sharp decline of the yen since last year.
The comments are a warning that intervention is on the radar, said Chris Weston, head of research at Pepperstone. However, he said the comments are unlikely to stall the yen39;s descent.
Japan intervened in currency markets last year in September when the dollar rose past 145 yen, prompting the Ministry of Finance to buy the yen and push the pair back to around 140 yen.
We are probably going to see more of such verbal intervention if yen moves are deemed to be onesided and excessive, said Christopher Wong, a currency strategist at OCBC in Singapore.
Against a basket of currencies, the dollar…