# Currency Intervention

The Yen’s Strategic Resilience: Why a 40-Year Low is Outperforming the G10

Despite hovering near 40-year lows, the Japanese yen has become the top G10 performer this month by resisting the deeper declines seen in the Euro and Australian dollar. Increased threats of joint U.S.-Japan intervention and a hawkish pivot by the Bank of Japan have established a temporary floor for the currency.