The United States and Japan confirmed a rare, coordinated currency intervention on Monday. This joint action supports the Japanese yen after it recently fell to a 40-year low. Japan’s Ministry of Finance 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 aim to prevent further currency depreciation from causing global economic spillovers.
U.S. Treasury Secretary Scott Bessent and Japanese Finance Minister Satsuki Katayama confirmed the joint resolve. Both officials stated they remain prepared to take further action if necessary.