Japan Reportedly Intervenes to Support Weakening Yen
The yen rose 3% on Thursday after reports that Japan intervened to support the currency. Officials previously warned of action against speculative market moves.
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Japan reportedly intervened in currency markets on Thursday, driving the yen up 3% in its largest single-day gain in over three years. The USD/JPY fell 2.3% to 156.665 after hitting its weakest level since July 2024 earlier that morning. This move signals a shift in Tokyo's tolerance for currency weakness, potentially impacting X NIKKEI 225 1D volatility and global carry trades.
