Yen's Slide Continues Amid Interest Rate Gaps

The yen's slide shows no signs of slowing down, despite a joint intervention effort by Japan and the US in July. The currency is on track for its worst week in three months, hovering around 159.37 per USD.

Tokyo has spent billions propping up the yen, but experts say it needs more aggressive rate hikes from the Bank of Japan to stem the decline.

The interest rate difference between Japan and other major currencies remains a significant factor in the yen's weakness, with the 10-year US Treasury yield still above 4.7%, compared to under 2.9% for Japanese government bonds.