22 Hrs
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Reasons behind US backing of the yen
Reports indicate that the United States intervened in an unusual manner to support the Japanese yen after it fell to its lowest levels in decades, in order to protect its economic interests. Analysis suggests that the intervention aims to maintain stability in the U.S. bond market, as Japan is the largest foreign creditor to the United States with investments totaling $1.1 trillion, and to avoid rising financing costs resulting from the yen's depreciation. Additionally, U.S. support seeks to balance the exchange rate to give Japanese products a competitive advantage in the American market and to prevent larger disruptions that could impact the global economy.
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