Yen Recovers on Intervention, but Policy Gap Remains Unchanged
The Japanese Yen has seen a significant recovery in recent sessions after experiencing its lowest point near 155.00 just over a fortnight ago.
A joint operation between Tokyo and the US Treasury resulted in a total of $8.45 trillion being spent on defending the currency, followed by an additional $5.3 trillion.
This intervention bought time for the Yen, rather than creating a sustainable buyer for the currency.