The Japanese yen is surging, reviving an uncomfortable memory for investors: the carry-trade turmoil of the summer of 2024. Early on Wednesday, a dollar bought about 153 yen, about 4% fewer than at the start of the month and 2% fewer than at the start of the year as the Japanese currency strengthened. The currency
The US and Japan carried out their first coordinated yen-buying intervention in nearly three decades on Friday, stepping into currency markets after the yen weakened to a 40-year low against the dollar. Japanese Finance Minister Satsuki Katayama confirmed the operation on Monday and warned that the two countries could intervene together again if needed. The
