Continued weak yen may create new problems even after US-Japan intervention

The yen has weakened in recent days, edging closer to the psychologically important 160 level against the US dollar. The decline comes despite the widely watched move by Washington to join Tokyo in supporting the currency. Less than two weeks after the US-Japan intervention, the yen has given up roughly half of its gains, raising fresh questions over the effectiveness of coordinated efforts to stabilize the exchange rate.

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