USD/JPY Tumbles Below 155.50 on Joint Japan-US Intervention
USD/JPY fell to near 155.45, its lowest since May 6, after Japan announced coordinated intervention with the United States to support the yen.
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The Japanese yen surged in early Asian trading on Monday, pushing USD/JPY down to around 155.45. This marks the pair's weakest level since May 6.
Reports indicate Japan and the United States conducted a joint intervention to bolster the yen. The move triggered a sharp drop in the dollar-yen pair, breaking below the 155.50 handle.
Market participants reacted swiftly to the announcement, with the yen attracting fresh bids across the board.
Source: FXStreet Forex News