Yen Weakness Persists Despite Joint Intervention

The dollar-yen rate has climbed back up to 159.08 yen, indicating that the impact of joint US-Japan intervention is waning and pressure on the yen remains.

Ongoing concerns over Japan's fiscal health and higher oil prices have driven the pair back up, weakening the yen again.

Brokerages predict that the won could see increased volatility in line with the yen, while a gradual strengthening of the yen could lead to further gains for the won.