The United States and Japan confirmed a rare, coordinated currency intervention on Monday. The joint action supports the Japanese yen after the currency hit a 40-year low. Japan’s Ministry of Finance and the U.S. Treasury stated the move counters excessive volatility and disorderly market movements.
This operation marks the first coordinated yen-buying effort involving the U.S. since the 1990s. The yen surged to a three-month high of 155.20 per dollar following the announcement. Both nations intend to prevent yen depreciation from causing global economic spillovers.
U.S. Treasury Secretary Scott Bessent and Japanese Finance Minister Satsuki Katayama confirmed the intervention. Both officials stated they remain prepared to take further action if necessary.