Market Views: When will a sagging Japanese yen stabilise against the dollar?

The land of the rising sun is facing a sinking currency problem. Japanese financial authorities are suspected to have stepped in twice within three days to support a plummeting yen. The most recent intervention allegedly happened on May 1, following the US Federal Reserve’s (the Fed) announcement to keep interest rates steady for now. On May 2, the yen weakened as much as 1.1% against the dollar to 156.28 in Asia trading, inching closer to levels before the possible intervent…