Forex
USD/JPY Slips Below Key Level Amid Joint Intervention Hopes
The US Dollar has declined by 0.3% against the Japanese Yen to near 159.65 during the European trading session on Monday.
This decline comes as the Japanese currency outperforms its peers on hopes of support from the United States and Japan joint intervention, with a reported $96.4bn aggregate intervention effort between July 30 and August 26.
US Treasury Secretary Scott Bessent has stated that Washington would intervene with Japan to shore up the Asia-Pacific currency if needed, following the joint intervention in late July when USD/JPY jumped to a multi-decade high near 164.00.