Dollar Plunges Below 156 Yen Amid Warnings of Further Intervention

The US dollar plummeted below 156 yen on Monday morning after Japan and the United States jointly announced they had carried out yen buying late last week, warning of further intervention.

This marked a significant drop from the upper 157 yen level, with the dollar fetching 156.13-14 yen compared to 157.33-43 yen in New York and 160.20-22 yen in Tokyo at 5 p.m. on Friday.

The euro also saw a decline against both the dollar and yen, quoted at $1.1541-1542 and 180.19-23 yen compared to its previous levels.

In response to the coordinated market intervention, Atsushi Mimura, Japan's vice finance minister for international affairs, pledged to continue taking measures to curb excessive volatility in the yen.