Why yen intervention had limited impact: Market doubts over Japan's policy

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.

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