Yen Intervention Sends Mixed Signals Across Asian Markets

Asian stocks were mixed on Monday after the U.S. and Japan confirmed they had intervened to prop up the value of the Japanese yen against the U.S. dollar.

The dollar fell to around 155.20 yen, down from near 164 yen last week, following the intervention by both countries.

A weak yen can boost the profits of Japanese companies with big operations overseas, but it also weakens Japan's purchasing power overall, pushing up costs for imports such as oil and other essential goods.