Ticker: Dollar weakens sharply against Japanese yen
The U.S. dollar has weakened sharply against the Japanese yen after U.S. President Donald Trump and Japan’s finance minister confirmed both sides had intervened in markets. Before late last week, the dollar was trading above 163 yen, touching 40-year highs. It fell below 160 yen after regulators were suspected of stepping in. On Monday after the official announcement of the intervention the dollar dropped to about 155.20 yen before rebounding slightly. That’s a big change for the exchange rate. Trump said the U.S. got “financial benefit” out of the intervention, calling it a ...