US Dollar Falls Against Japanese Yen After Officials Intervene in Markets

The US dollar fell sharply on Monday against the Japanese yen after US President Donald Trump and Japan’s Finance Minister confirmed that both sides had intervened in financial markets.

Earlier last week, the dollar traded above the 163-yen level, touching its highest point in 40 years. Following speculation about regulatory intervention, the dollar dropped below the 160-yen mark.

Early on Monday, following the official announcement of intervention, the dollar fell by approximately 1% to 156.34 yen, representing a significant shift in the exchange rate.