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Dollar-Yen Intervention Rocks Japan Amid Global Stocks' Record Push

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Japan and the US have intervened to weaken the dollar against the yen for the first time since 2011.

The intervention occurred on Thursday when Japan acted, followed by coordinated action from the US on Friday.

The US dollar versus the yen (JPY=X) fell from nearly 164 to as low as 155 after the joint effort.

This marks the first time the US has stepped in to strengthen the yen since 1998 and is a significant move to manage the transition as Japanese interest rates rise.

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