Yen Surges After US-Japan Intervention Hits 155 Mark

The yen strengthened to the lower 155 range against the dollar on Monday morning following a joint intervention by Japan and the U.S. Department of the Treasury, according to Japanese Finance Minister Satsuki Katayama.

Katayama stated in a statement on August 3 that Japan had purchased the yen 'in coordination with the U.S. Department of the Treasury.' The move aims to stabilize the currency markets.

However, traders remain wary of further interventions by Japan and the U.S., leading to concerns about the impact on financial markets. JGB yields rose and stocks fell in response to the news.