Dollar Slumps Against Yen After Joint Intervention

The U.S. dollar has sunk against the yen after a joint intervention between Japan and the Trump administration.

The dollar fell to 156.80 yen on Monday morning, down from its 40-year high of 164 yen in July.

The Treasury Department sold off euros for yen on Friday as part of the effort to stabilize Tokyo's deflating currency.

Treasury Secretary Scott Bessent confirmed that the U.S. would continue to participate in joint interventions with Japan to counter 'excessive volatility' in the yen market.