NewsHK
The dollar-yen exchange rate is back at levels that unsettled global risk markets last year.
Japan's yen fell to 160.16 per dollar on 28 August, giving up more than half its gains from a month of heavy official support that cost Tokyo roughly $97 billion, and the move is reigniting concern over yen-funded carry trades.
The intervention math Japan spent ¥15.4 trillion defending its currency between 30 July and 26 August, a campaign that included a rare joint operation with the United States on 31 July, when both governments bought yen to lift its value.
The scale of the outlay is notable. The rate differential tells the story. US interest rates remain higher than Japan's, making dollar-denominated assets more attractive and keeping steady pressure on the yen.
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