Japanese authorities intervene in currency markets, weakening the USD/JPY pair to around 156.85 in early Asian trading.
The Japanese Yen strengthened against the US Dollar after authorities intervened in foreign exchange markets for the second time, pushing the USD/JPY pair down to approximately 156.85 during Friday’s Asian session.
Prior to the intervention, the pair had traded near multi-decade highs, reflecting persistent pressure on the Yen amid diverging US and Japanese monetary policies. Markets now await the US April employment report, which could influence further currency movements.
Traders adopted a cautious stance following the intervention, with limited immediate reaction in broader FX markets.