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 yen slipped Tuesday, suggesting the Japanese government's efforts to prop up the currency have had limited impact. Data released Tuesday by the Bank of Japan suggested the intervention amounted to tens of billions of dollars. Masato Kanda, who is in charge of currency intervention as vice finance minister for international affairs, said Tuesday that Japan was ready to act in the foreign-exchange market 24 hours a day.
It was the eurozone’s strongest quarterly growth since the third quarter of 2022, lifted by stronger-than-expected growth in Germany, France, Italy and Spain.
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