US Dollar Weakens Sharply Against the Japanese Yen After Market Interventions
Treasury Secretary Scott Bessent said the two governments may intervene again after Friday’s action countered disorderly yen movements, which sent the currency up more than 1%.
- On Monday, the U.S. dollar weakened against the Japanese yen after President Donald Trump and Japanese Finance Minister Satsuki Katayama confirmed a coordinated yen-buying intervention to halt the currency's decline.
- Japan's Finance Ministry said the Friday intervention "countered excessive volatility and disorderly movements in the Japanese yen in recent months," as the currency had recently hit 40-year lows.
- Bank of Japan data indicated Tokyo may have sold as much as $58.97bn to buy yen during Thursday's New York market sessions, preceding the joint action with Washington.
- Treasury Secretary Scott Bessent confirmed Washington "will not hesitate to participate in further joint intervention," while Trump stated Sunday the U.S. is supporting Japan as a "sign of friendship."
- Bessent reiterated calls for higher Japanese interest rates, and the Bank of Japan offered its strongest signal yet of an early rate hike to support the currency's long-term stability.
166 Articles
166 Articles
US and Japan coordinated to help stabilize the Yen
The United States and Japan coordinated to intervene in the currency markets to stabilize the weakening yen last week, a rare move that last occurred more than a decade ago. The post US and Japan coordinated to help stabilize the Yen appeared first on Hawaii Tribune-Herald.
Tokyo, 3 Aug (EFE).- Japan's Finance Minister Satsuki Katayama said on Monday that the archipelago and the United States intervened jointly in the foreign exchange market to curb the decline of the yen, which was at least 40 years before the first such action since 1998. "On Friday 31 July (...) the Ministry of Finance of Japan, in coordination with the US Treasury Department, intervened in the Chinese market to buy yen," Katayama said in a stat…
Coverage Details
Bias Distribution
- 53% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
