A coordinated Japan-US intervention was carried out early this month to steer the yen higher, marking a turning point for the foreign exchange market. The likelihood of the yen strengthening over the next several years is being reassessed.
A coordinated Japan-US intervention was carried out early this month, and the move aimed at steering the yen higher is said to have affected the market.
In response to the intervention, the outlook for the foreign exchange market was reshaped, prompting revisions to market expectations for future exchange-rate movements.
The article points to the likelihood of the yen strengthening over the next several years, and is seen as further strengthening the view that the yen is turning higher.