Yen and Won Sink to Structural Lows; Talk of Coordinated Japan-South Korea Intervention Swirls, but Policy Capacity Diverges
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The yen has fallen to a multi-decade low against the dollar, with some reports suggesting a 39-year low and others a 40-year low. There is speculation about potential intervention by Japan, possibly in coordination with South Korea, as the won also declines. The value of the US dollar has also been affected, with some outlets reporting a decline amid talk of intervention and a shift in market sentiment.