Yen surges past 155.50 after US-Japan joint intervention reports
USD/JPY tumbled to near 155.45 in early Asian trading Monday, its lowest since May 6, following reports of a coordinated intervention by Japan and the US.
USDJPY
The dollar fell to approximately 155.45 yen in early Asian trading on Monday, marking the lowest level since May 6. The sharp move followed reports that Japan and the United States conducted a joint intervention to bolster the Japanese currency.
The yen had been under persistent pressure, prompting authorities to step in to prevent further depreciation. The intervention signals a coordinated effort to stabilize the exchange rate.
Source: FXStreet Forex News