Yen Rises Against Dollar After Joint Intervention

The Japanese yen has made significant gains against the US dollar since the end of July. A rare joint intervention by the US and Japan at that time led to a sharp increase in the value of the yen, which had reached a 40-year low of 163.98 before the intervention.

However, after retracing approximately half of its increases made after the joint intervention, the yen has continued to rise against the dollar. It was not immediately clear what prompted this latest move.

The yen's value is currently at 158.56 per dollar, representing a 1% increase on the day.