Japan and the US confirm their first coordinated currency intervention since 2011

Japan's Ministry of Finance confirmed a coordinated yen-buying intervention with the United States to halt the currency's slide to a forty-year low, after President Donald Trump said on Sunday that Washington was helping as a sign of friendship and to support the global economy. The yen gained 1.4 percent to 155.20 per dollar, its strongest level in nearly three months, following a 3.8 percent rise over the two previous sessions. Treasury Secretary Scott Bessent said Washington would not hesitate to take part in further joint intervention, and Tokyo said the same. It is the first joint action since 2011, when the two countries moved in the opposite direction to weaken the yen after the earthquake in eastern Japan.

← See the full edition