U.S. dollar weakens sharply against the Japanese yen after market interventions

Image for article U.S. dollar weakens sharply against the Japanese yen after market interventions
News Source : NPR

News Summary

  • The yen's prolonged weakness against the dollar has been a source of frustration for Tokyo.
  • Before late last week, the dollar was trading above 163 yen, touching 40-year highs.
  • After regulators were suspected of stepping in, it fell below 160 yen.
  • Trump said the u.s. got "financial benefit" out of the intervention, calling it a "signal of friendship" The move followed a joint statement last year and "countered excessive volatility and disorderly movements in the Japanese yen in recent months"
TOKYO The U.S. dollar weakened sharply Monday against the Japanese yen after U.S. President Donald Trump and Japans finance minister confirmed both sides had intervened in markets.

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