Treasury Yields Rise, Dollar Weakens as Japan Intervenes to Boost Yen

Long-term Treasury yields extended their advance on Thursday, building on moves from the prior session. The rise came after the Federal Reserve opted to leave interest rates unchanged, acknowledging that inflation remains elevated.

The dollar faced broad selling pressure, sliding against major peers. Simultaneously, the Japanese yen staged a sharp intraday rally, triggered by confirmed intervention from Japanese authorities alongside the Bank of Japan.

The interventions underscored growing discomfort with yen weakness and added a fresh layer of volatility to currency markets, even as U.S. yields remained elevated.