Yen Carry Trade Falters as Japan Seeks New Intervention

The Japanese yen has been on a sustained decline, falling to a 40-year low in late July when it traded above 163 per US dollar.

Despite a rare joint US-Japan market intervention that briefly halted its slide, the currency has reversed half those gains and is once again approaching the 160 per US dollar threshold.

Analysts predict another round of boosting efforts may be necessary as the deepening US Treasury rout fuels the global yen carry trade.