Forex
Yen Soars After Japan-US Currency Market Intervention
The Japanese yen saw a significant spike last week following a joint intervention by Japan and the US in the currency market.
This intervention led to near-term volatility in the spot rate, and historically, currency-hedged returns have performed better than unhedged returns during periods of heightened USD/JPY spot volatility.
The coordinated late-July intervention by the US was a key event that triggered this market movement.