Yen Soars as Joint US-Japan Intervention Lifts Asian Markets

Asian shares were mixed on Tuesday following a rally on Wall Street that was helped by easing oil prices. Regional investors were still weighing the impact from last week's joint U.S.-Japan currency intervention, analysts said.

The yen rose to 157.70 Japanese yen against the U.S. dollar after regulators stepped in to boost its value, which had fallen to nearly 40-year lows. The euro cost $1.1515, up from $1.1514.

Some analysts questioned the effectiveness of the intervention, saying it doesn't address the fundamental economic reasons behind currency fluctuations, including inflation, interest rates, and relative economic strengths.