Yen Finds Footing on Intervention, Dollar Near Six-Week Lows

The Japanese yen stabilized after recent intervention efforts, with the currency slightly firmer at 157.60 per US dollar on Wednesday. This comes after a joint effort by Japan and the United States to buy the yen last week.

US Treasury Secretary Scott Bessent said the US will 'do whatever it takes' to support Japan's efforts to stabilize the yen, adding credibility to the intervention.

The dollar index was little changed at 99.85, struggling to find direction after hitting a six-week low on Monday.