US and Japan Launch Rare Joint Yen Intervention, Countering 40-Year Lows

The United States and Japan conducted a rare, coordinated currency intervention on Monday to support the yen. The Japanese Ministry of Finance and the U.S. Treasury acted to counter excessive volatility after the currency hit a 40-year low.

This operation marks the first joint yen-buying effort between the two nations since the 1990s. The yen surged to a three-month high of 155.20 per dollar following the announcement.

U.S. Treasury Secretary Scott Bessent and Japanese Finance Minister Satsuki Katayama confirmed their readiness for further action. Both nations aim to prevent yen depreciation from triggering global economic spillovers.