Sean Foo: Japan Dumps $22 Billion in Desperate Currency Rescue

In a surprising move, Japan has begun intervening in the foreign exchange market in an effort to prop up the value of the yen. The Bank of Japan dumped a staggering $22 billion into the market, but analysts question whether this move will have any significant or lasting impact. The Japanese currency has been on a steady decline against the US dollar due to various economic factors, including the divergent monetary policies of the Bank of Japan and the US Federal Reserve. While the US has been gradually raising interest rates, Japan has maintained its ultra-low interest rate environment to…