Yen Gains With US Rate Checks, Report of Japan's Intervention

The Japanese yen strengthened on Friday as the currency benefited from both a pullback in US interest rates and reported intervention by Japanese authorities to support the yen. According to Nikkei, Japanese officials actively participated in the foreign exchange market to bolster the currency's value. This combination of factors—softer US rate expectations and direct market intervention—contributed to the yen's gains.