The Japanese yen held its gains against the US dollar on Tuesday, after suspected intervention by Japanese authorities sparked a sharp rise. At around 156 against the USD at the time of writing, the yen has strengthened from as low as 160.1 at one point on Monday. Japan’s top currency diplomat Masato Kanda declined to comment on the finance ministry’s role in the price jump, but said authorities were ready to deal with foreign exchange matters around the clock. From a historical perspective, FX interventions tend to have a short-lived impact, and the fundamental picture for the Japanese yen remains challenging in the ... (full story)