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Dollar falls after US-Japan yen intervention
The US dollar declined against major currencies as a result of American-Japanese intervention to support the yen, which fell to its lowest levels in 40 years before Japan and the United States intervened to purchase yen amid increasing geopolitical tensions between Iran and the United States. The joint intervention came after the Japanese currency dropped below 162 yen per dollar, with the yen achieving a monthly gain of 1.6%. This is the first joint intervention between the two countries in decades. Additionally, the Bank of Japan maintained its monetary policy unchanged, with signals of further monetary tightening to address rising inflation, while oil prices fell as negotiations between Iran and the United States regarding the Strait of Hormuz and nuclear issues resumed.
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