Japan-US Intervention Fuels Yen Rally as Dollar-Yen Peak Looms

The US and Japan have intervened in the foreign exchange market to prop up the yen, marking a significant turning point for the currency. This move is seen as a watershed moment by Eurizon SLJ Capital's Stephen Jen, who believes that it will prevent the yen from sliding back to its four-decade low against the dollar.

Jen and his colleague Joana Freire argue that neither the US nor Japan would give up or concede to market pressures. They predict that the dollar-yen exchange rate has likely peaked, citing resistance as futile in this case.