The Japanese Yen (JPY=X) touched its lowest level against the US dollar (DX=F) since 1990, which has prompted Japanese authorities to intervene to support the yen, according to The Wall Street Journal. The Yen has since rebounded from the drop, but what do the foreign exchange developments mean for US investors? Yahoo Finance Reporter Jared Blikre joins Catalysts to break down the Yen's movement and why US investors should pay attention. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Nicholas Jacobino
The USD/JPY pair has been all over the place during the early hours on Monday, as there has been massive gains, followed by massive losses, only to turn back around again.
The U.S. dollar weakens 1% versus the Japanese yen, following what people familiar with the matter told The Wall Street Journal was an overnight intervention by the Bank of Japan. The USDJPY traded close to 160 before authorities jumped in, driving the cross below 155.
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