Yen at a crossroads
The Japanese yen remains a widely discussed currency following a coordinated, record-setting US-Japan intervention that began on 30 July. Before the intervention, USD/JPY was trading near ¥164 – a 40-year low for the yen. The initial intervention weighed on USD/JPY, triggering losses of more than 400 pips (-2.4%) in a single day, with further intervention…