Yen Jumps Third Straight Day as Japan-US Intervention Looms

The yen continued its upward trend for the third consecutive session on Monday, reaching a high of 155.20 against the US dollar in Asian morning trading.

This comes after Japan and the United States conducted coordinated yen-buying intervention last week to support the Japanese currency.

According to Stephen Spratt, APAC developed markets rates strategist at Societe Generale, the current level of 162.72-164.96 is a useful guide for identifying when intervention risk enters the danger zone.

The yen rose by 1% in Asian morning trading and was last up 0.39% at 156.76 against the dollar.