Japanese yen falls to 160 after intervention
The Japanese yen declined to the 160 level against the dollar after Japanese authorities intervened in the foreign exchange market to buy yen and sell dollars, in an effort to strengthen the struggling currency, despite the Bank of Japan maintaining interest rates at 1% without change. This intervention caused the dollar to rise by 0.45%, reaching 160.175 yen, after having previously fallen by 2.4%, marking its largest single-day drop since January 2023. Meanwhile, the dollar index remains around 100.6, experiencing a decline throughout the week and the month.
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