USD/JPY Returns Near 158, Japan May Need Further Yen Intervention: Standard Chartered

According to Standard Chartered strategists Steve Englander and Nicholas Chia, the U.S. dollar has returned near the 158 level against the yen, signaling that Tokyo may require additional intervention to suppress market selling pressure on the currency. The analysts noted that Japanese authorities have likely reestablished a defense line for the yen between the 150 and 160 levels, suggesting policymakers are monitoring the currency pair closely to prevent further weakness.
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