Rare U.S.-Japan intervention briefly strengthened yen then it weakened
The Japanese yen got a quick boost last week thanks to a rare U.S.-Japan joint intervention, the first since 1998, but that didn't last long.
By Friday, the yen had slipped back to 158.45 per US dollar, losing nearly half of its gains and coming close to the four-decade low of 164 per US dollar.
Atsushi Mimura says ready to intervene
Even with government action, bigger issues like Japan's high debt, lower interest rates compared to the US and global uncertainty are keeping the yen down.
Rising oil prices and tensions in the Middle East have also pushed the US dollar higher.
As the yen nears 160 per US dollar again, experts think another intervention could happen, especially if Japan hikes rates or if there's a shift from the US Federal Reserve.
Japan's currency chief Atsushi Mimura says they're ready to act if needed.