BUSINESSJun 19 · 02:04 UTCCNBC TOP

Why Japan's $70 billion-plus intervention and a rate hike didn't prop up the yen more

Japan intervened with a $70 billion-plus effort and raised interest rates to support the yen, but the currency did not strengthen as expected. The yen has returned to the 160 level, where Japan previously intervened to defend it.

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