Dollar Plummets Against Yen After Japan's Market Intervention
The US dollar has weakened sharply against the Japanese yen following market interventions.
A person walks past an electronic board showing the exchange rate at a securities firm in Tokyo on Monday, August 3, 2026.
The recent decline of the US dollar has been attributed to the actions taken by Japan's new finance minister Satsuki Katayama and her predecessor Sanae Takaichi, who implemented market interventions to weaken the yen.
Stephen Innes, a Singapore-based trading strategist at Axi, noted that the intervention was aimed at making Japanese exports more competitive in the global market.