Dollar Slumps on Regulator Intervention: Yen Gains Ground

The US dollar experienced a significant drop against the Japanese yen on Monday after intervention by regulators was confirmed. Before the announcement, the dollar had been trading above 163 yen, reaching a 40-year high.

However, following the revelation of market intervention by both the US and Japan, the dollar's value plummeted to below 160 yen.

Early Monday morning, after the official confirmation of intervention, the dollar dropped approximately 1% to 156.34 yen.