Japan and US to support yen if needed
Sources anticipated that Japan and the United States may conduct a new joint intervention to support the yen if there are signs of a resurgence in its decline, following a rare and recent coordinated effort to halt the Japanese currency's fall. Experts confirmed that the recent intervention was effective and helped solidify the market stance against the yen's continued depreciation. They expect the dollar-yen rate to fluctuate between 155 and 162 yen, and consider the yen remaining stable below 160 yen for a period as indicative of a temporary bottom. The experts added that supporting the currency requires changes in Japan’s fiscal and monetary policies, especially given the rising yields on Japanese bonds, while warning about the risks of these pressures transferring to global financial markets.
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