Yen Fails to Bounce Despite Joint US-Japan Intervention

The Japanese Yen has settled near 159.25 against the US Dollar after a joint currency intervention between the US and Japan, its first since 2011.

The intervention aimed to curb volatility and slow down the rapid depreciation of the Yen, but it hasn't altered the underlying carry trade dynamics that favor the Dollar.

Traders and analysts note that for the Yen to sustain gains, a fundamental shift in monetary policy expectations is needed, such as the Federal Reserve cutting rates or the Bank of Japan raising them more aggressively.