The USD/JPY exchange rate climbed back to near 159.00 yen on Tuesday, recovering from a brief intraday dip below that level during the early part of the European session, according to FX Street.
OCBC’s Sim Moh Siong and Christopher Wong noted that despite recent foreign exchange interventions by Japan, supported by the United States, the Japanese yen’s weakness has not been fully reversed. The USD/JPY pair retraced much of its post-intervention decline but remained close to the 159.00 mark.
This sustained pressure on the yen highlights ongoing challenges for Japanese monetary authorities amid global currency volatility and persistent inflation concerns impacting market sentiment.