economy
CNBC Daily Open: Fast and furious intervention to prop up the yen
Japan, having intervened to prop its weakening currency to little effect in the past, roped in the U.S. to stage a coordinated intervention.
TL;DR
- Japan and the U.S. conducted a coordinated intervention to support the yen.
- Experts express doubt about the sustainability of the yen's strength.
- U.S. markets experienced a tech-fueled rally, with the S&P 500 nearing its all-time high.
- Amazon shares reached a new all-time high, surpassing a $3 trillion market cap.
- Hugging Face CEO Clément Delangue states China is leading the AI race with open models.