The deal has begun, with speculation that a multi-billion dollar intervention is taking place behind the scenes.
The yen strengthened against the dollar by 3 percent, which is the largest one-day exchange rate movement for the Japanese currency since 2022. According to market participants, Tokyo was able to directly intervene in the foreign exchange market after the yen fell to a 40-year low at the beginning of the week, according to Reuters.
The yen strengthened against the dollar by 3 percent, which is the largest daily exchange rate movement for the Japanese currency since 2022. According to market participants, Tokyo directly intervened in the foreign exchange market after the yen fell to a 40-year low at the beginning of the week, Reuters reports.
