Japan and the US intervene to support the yen, pushing USD/JPY to its lowest level since early May.
The Japanese yen surged past 155.50 against the US dollar after authorities announced joint currency intervention. USD/JPY fell to near 155.45, marking its lowest point since May 6, during early Asian trading on Monday.
Prior to the intervention, USD/JPY had traded above 157.00, reflecting persistent yen weakness amid diverging monetary policies. The last joint US-Japan intervention occurred in 2022, when the yen approached 152.00.
Markets reacted swiftly, with the yen strengthening as traders priced in coordinated policy action to stabilize the currency.