Forex
Yen Finds Brief Respite Near 160.00 Amid Joint Intervention
The Japanese Yen (JPY) has been trading lower against major currency peers in recent days, but it's likely to find some respite near 160.00.
A rare joint intervention by the US and Japan has helped support the Yen, which fell to its lowest level against the Dollar since 1986.
The coordinated action between the two countries aims to counter 'excessive volatility and disorderly movements in recent months', according to Japanese Finance Minister Satsuki Katayama.
As of writing, the US Dollar (USD) Index trades near 100.00, while investors await key US economic data, including the Nonfarm Payrolls (NFP), releasing this week.