Currencies
Declining confidence in Tokyo’s economic agenda keeps currency under pressure
Coordinated intervention by Japan and U.S. central banks is proving to have limited effectiveness. (Nikkei montage/source photos by AP)
TOKYO — Last week’s market intervention by Japan and the U.S. to prop up the yen seems to have had a limited impact in reversing the currency’s trajectory, with market observers citing a declining confidence in Tokyo’s fiscal and monetary policy.