Japanese Officials Likely Intervene in Forex Market Amid Yen Weakness

The recent decision by the Bank of Japan regarding interest rates has led to a weakening of the yen. According to Odaily, analyst Giuseppe Dellamotta from Investinglive suggests that Japanese officials have likely intervened in the foreign exchange market. It appears that they have set a floor for the USD/JPY exchange rate at 159.00. Last week, there was an increase in verbal interventions by officials, which helped alleviate pressure on the yen.