The JPY pares back 4.5% gains from last week’s US-Japan intervention as selling pressure resumes.
The Japanese Yen (JPY) is slipping against the US Dollar (USD) on Thursday, erasing part of the 4.5% surge sparked by last week’s coordinated US-Japan intervention. Spot rates are drifting toward 158.00 after failing to hold above 155.00 in early Asian trade.
Before the intervention, the JPY had weakened to multi-decade lows near 160.00, prompting authorities to step in. Market expectations had priced a 3-4% rebound, but follow-through buying has been limited amid persistent yield differentials.
Traders are watching for further official comments or action, though no immediate market reaction has been reported.