Yen Intervention Sparks Dollar Selloff, Ripples Through Forex Markets

The joint US-Japan intervention has delivered a stunning reversal for the yen, pushing it to its strongest level in three months as USD/JPY fell to 155.20 from 40-year highs above 163. This coordinated action—$58.97 billion in yen purchases according to Bank of Japan data—signals authorities are serious about defending the currency. Strategists at Goldman Sachs note intervention is an effective tool for authorities to buy time, and the sheer scale suggests policymakers...