Japanese Yen Falls Toward 162.00 as Carry Trades Outweigh Intervention Risks
USD/JPY extends its recovery from the two-week low near 160.50, approaching the 162.00 level amid carry trade demand despite intervention concerns.
USDJPY
The USD/JPY pair strengthened for the second consecutive day, recovering from the 160.50 area — a two-week low touched on Friday — and moving toward the 162.00 level.
The yen's decline is supported by ongoing carry trade demand, which continues to offset risks of potential intervention by Japanese authorities. Market participants remain vigilant for any verbal or direct action from the Bank of Japan or Ministry of Finance.
Source: FXStreet Forex News