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US, Japan Intervene Jointly to Boost Yen From 40-Year Low
Officials said the rare move countered disorderly yen weakness, and analysts estimated Japan’s intervention at up to $52.8 billion.
- 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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US-Japan yen intervention is also a tug of war
NEW YORK — A pointed question now hangs over global markets as the US Treasury links arms with Japan to confront yen bears: who actually holds the leverage — Washington or Tokyo? Treasury Secretary Scott Bessent plainly wants his Japanese counterpart, Finance Minister Satsuki Katayama, to treat this joint intervention as a privilege — to feel humbled, […] The post US-Japan yen intervention is also a tug of war appeared first on Asia Times.
·Hong Kong, Hong Kong
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Coverage Details
Total News Sources374
Leaning Left64Leaning Right60Center105Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 28%
C 46%
R 26%
Factuality
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