US, Japan Intervene Jointly to Boost Yen From 40-Year Low
The move marked the first joint U.S.-Japan yen intervention since 1998 and pushed the dollar down to about 156 yen, officials said.
- The U.S. and Japan conducted their first joint currency intervention in 28 years to support the yen after it hit a 40-year low against the dollar, leading to a sharp rise in the yen's value.
- President Donald Trump described the intervention as a "signal of friendship" that would benefit both the U.S. and the global economy.
- U.S. Treasury Secretary Scott Bessent affirmed readiness for additional joint interventions and supported Japan's monetary steps to correct the yen's undervaluation, emphasizing close coordination between the two countries.
- Following the intervention, the yen strengthened significantly, prompting market speculation about further actions and expectations of tighter monetary policy in Japan.
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418 Articles
The move to support the Japanese currency without weakening the US dollar. But according to the Financial Times the decision would have been made without confronting the European Central Bank, causing the irritation of Frankfurt
According to the Financial Times, the president of the ECB Christine Lagarde and US Treasury Secretary Scott Bessent would only be confronted after the historic US intervention to strengthen the yen. In the corridors of the Eurotower there is talk of an "unprecedented violation of the long-standing conventions on cooperation between monetary authorities"
The yen has recently reached its lowest level compared to the US dollar since 1985. It is not only a Japanese problem. It is also an American problem.
Japanese Yen gathers strength to near 157.50 on US-backed intervention
The USD/JPY pair trades in negative territory near 157.65 during the early Asian trading hours on Thursday. The Japanese Yen (JPY) strengthens against the US Dollar (USD) following a coordinated currency intervention by the United States (US) and Japan. The US Initial Jobless Claims report will be published later on Thursday. Earlier this week, Japan’s Finance Ministry Satsuki Katayama said that Tokyo and Washington conducted coordinated Yen-b…
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