U.S. nods to concerns from Japan and South Korea over slumping currencies

"In the last few intervention cycles, American authorities — most notably Janet Yellen — issued statements acknowledging Japan's motivations and providing verbal support," said Karl Schamotta, chief market strategist at Corpay. "From a strategic perspective, currency intervention is far more likely to succeed when delivered through a coordinated international effort. Unilateral moves are helpful in mitigating volatility, but aren't up to the task of reversing the yen's long rate differential-driven slide," Schamotta said. Read the Japan Times article here.