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Yen strengthens after Japan and US joint intervention, USD/JPY slips

MUFG says USD/JPY fell from around 164 after suspected MoF action and confirmed coordination with the US Treasury, though it warns fundamentals must change for a sustained move.

Reported · Written up by our desk · Major Pairs

MUFG analyst Michael Wan says the Japanese yen has strengthened sharply, with USD/JPY dropping from around 164 after suspected intervention by Japan’s Ministry of Finance and confirmed joint action with the US Treasury, according to FXStreet.

Wan notes that past joint yen interventions have often aligned with turning points in USD/JPY, but he cautions that a durable shift lower for the dollar needs a change in underlying fundamentals rather than intervention alone.

The article frames the move as a potential inflection point for the pair, while emphasizing that follow through will depend on broader market drivers rather than the intervention headline.

FXStreet’s broader market wrap also highlights USD weakness linked to the USD/JPY slump and points to ongoing attention on US developments and data that could influence rate expectations and risk sentiment.

Latest closeUSD/JPY 157.38 ▼1.8%

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