Forex
Dollar Sinks Against Yen After Joint Intervention by Japan and US Authorities
The US dollar unexpectedly dropped against the yen on Monday, reversing earlier gains. This sudden drop occurred after Japan confirmed it had participated in joint intervention to support the Japanese currency with the United States.
According to Reuters, the dollar fell by 0.6% against the yen to an intraday low of ¥156.50 in the Asian morning.
The market remains highly sensitive to verbal cues and liquidity conditions, with officials issuing sharp warnings that they stand ready to 'act decisively,' underlining elevated volatility risks.