Yen Strengthens on Intervention Fears, USD/JPY Drops to 159.90
USD/JPY extended losses for a second consecutive day, trading near 159.90 during Asian hours on Friday, as the yen gained support from heightened fears of government intervention.
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The Japanese Yen continued its advance against the US dollar, pushing USD/JPY lower for a second straight session. The pair traded around 159.90 during Asian hours on Friday, reflecting growing market anxiety over possible intervention by Japanese authorities to support the currency.
Traders remain on edge as the yen strengthens, with speculators wary of official action to curb further depreciation. The move comes amid a broader backdrop of cautious sentiment in the forex market.
Source: FXStreet Forex News