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Yen gains from U.S.-Japan intervention fade as attention turns to policy

The yen had strengthened to about 155 per U.S. dollar shortly after the coordinated Treasury and Bank of Japan involvement, versus just above 163 beforehand.

Reported · Written up by our desk · North America

CNBC World reports that the yen’s brief rally after a coordinated U.S.-Japan intervention has faded, with traders shifting their focus to upcoming policy expectations.

The outlet said the joint involvement from the U.S. Treasury and the Bank of Japan initially pushed the yen to as low as about 155 to the dollar.

That marked an improvement from just above 163 per dollar before the intervention.

CNBC World added that the market’s attention has moved from the immediate intervention impact to the broader policy backdrop.

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