USD/JPY Hits 40-Year High Above 162 Yen; BofA Notes Japan, Switzerland Most Active in G10 Forex Intervention

USDJPY0.59%
According to Bank of America on July 5, Japan and Switzerland are the most actively intervening nations among G10 countries in forex markets, despite central bank currency interventions remaining rare globally. BofA's report notes that Japan has repeatedly intervened since 2022 to defend the yen amid sharp dollar-yen fluctuations, driven by concerns over import price pressures and financial stability. The dollar-yen rate surged past 162 yen, marking a 40-year high, as market participants anticipate further Japanese intervention.
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