US Dollar Weakens Across the Board, as Yen Surges Amid Concerns Over Coordinated Intervention

US Dollar Faces Heavy Selling as Yen Strengthens

At the beginning of today’s session, the US dollar experienced significant downward pressure. This decline was fueled by concerns over possible coordinated intervention, following the Federal Reserve’s recent review of interest rates—reportedly at the request of the US Treasury—and reinforced by statements from Japanese leaders, including Prime Minister Takaichi.

In other developments, a new tragedy involving ICE in Minnesota has prompted Democratic Senators to threaten a blockade of the funding legislation recently passed by the House, which aims to keep the federal government operating beyond the month’s end. Notably, ICE funding was already included in the comprehensive spending package that received prior approval.