Yen Slumps Amid Fading Intervention Effect

The Japanese yen has seen its biggest weekly decline in three months, dropping around 1% to 159.43 per dollar on Friday (14/8), as the impact of intervention by Japan and the US begins to fade.

Market participants expect further official intervention to stem the currency's decline, which has given up half of its gains from late July and early August.

The yen was trading near 164 per dollar before intervention in July. Now, market participants see 160 per dollar as a level that could trigger fresh action by Japanese authorities.