Dollar sinks against yen after Trump administration intervention

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AI Fusion Summary

The US dollar fell to 156.80 yen following a joint intervention by the Trump administration and Japan, after hitting a 40-year high of 164 yen in July. This shift followed the Treasury Department selling euros for yen. In Tokyo morning trading, the yen surged up to 1.4% against the dollar. Market participants now speculate that additional interventions may occur following the support provided by the United States to stabilize the currency exchange rates.
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