Dollar Plunges Against Yen After Joint Market Intervention
The US dollar has seen a significant decline against the Japanese yen after a joint market intervention by the US and Japan was confirmed.
Before the intervention, the dollar had been trading above 163 yen, reaching its highest point in over four decades. However, following the move by regulators, it fell below 160 yen.
The confirmation of the intervention came from US President Donald Trump and Japan's finance minister, who acknowledged that both countries had taken action to stabilize markets.