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Yen weakens after US intervention pushes dollar higher at ¥157
The yen moved to about ¥157 per dollar after intervention, strengthening versus its recent low near just above ¥163, which marked a four-decade low.
CNBC Markets says the US and other parties intervened to support the yen, and the currency’s level shifted to about ¥157 per dollar after the action.
The report notes the yen had been near just above ¥163 before the intervention, a move that represented its weakest level in roughly four decades.
After the joint involvement, the yen’s decline eased to the ¥157 area, indicating investors took the intervention as supportive even as the yen remained weaker than earlier levels.
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